TD Bank has added it’s voice to the chorus of people predicting Canadian real estate will remain flat or fall in price over the next 10 years.
Yahoo finance reports:
“The “special report” from one of Canada’s largest banks makes the case that gains in housing prices have been exceptionally strong over the last 10 years, even when accounting for a sharp drop during the 2008-09 recession. But now is the time for a bit of a payback.”
Read the full article here: Canadian house prices to remain flat over 10 years, predicts TD bank
To understand how overpriced real estate is in Vancouver, I find it useful to compare the price of homes here to those in other cities.
Click here to see the only “house” selling for $400k in Vancouver right now.
And below is what $400k will get you in another U.S. town.
Today’s guest post by Steve Kiziak. Life and health insurance advisor.
We are extremely fortunate as Canadians to have universal health care through the Canadian Health Act. Some of us also have additional health coverage and protection of income through a group insurance plan through our employer or unions. But as more Canadians are becoming self-employed and as our government seems to cover fewer services due to rising health care costs, we need to be more self-reliant and establish our OWN financial safety net.
Here are some the different ways we can protect our financial security.
I am reading a book right now called How An Economy Grows (and why it crashes). It’s a great book because it explains complex economic principals in the form of a children’s story book with lots of pictures.
Today I thought I would do a very basic lesson on interest rates.
The interest rate is really the cost of renting money. If renting money is cheap, more people borrow money and buy things. If renting money is expensive, people stop borrowing and save their money.
When the cost of renting money is high, the bank will offer you high interest on your savings account knowing that they can lend your money out at an even higher rate in the form of mortgages.
In 1981 banks would offer you 5% interest on your savings account because they could then lend that money out in the form of mortgages at 24%. As a result more people saved their money and people only bought a house when they had saved up a big down-payment.
“Follow the money”, host Eric Bolling sees “liberal Hollywood” messages in new Muppet movie.
And just to get the taste of Fox News out of your mouth, I have included this clip of local boy Michael Bublé. For anyone who auditions and knows what it’s like to open your heart in a room full of strangers, I hope this clip resonates with you.