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maxidious
Sep 25, 2007

Meh
Home sales forecast boosted Home sales

The Canadian Real Estate Association says the national average price for homes sold in August was $398,618, up 5.3 per cent from a year earlier.

OTTAWA — The Canadian Real Estate Association raised its home sales forecast Monday on the back of stronger than expected sales in recent months following a slow start to the year.

The association said sales through its Multiple Listing Service are now expected to total 475,000 homes for 2014, up from a June prediction of 463,400.

The new forecast would mean sales would be up 3.8 per cent compared with 2013 and 2.5 per cent higher than the previous forecast.

Regionally, the association said the five provinces from Ontario and the West will show gains while the five eastern provinces will show declines.

The association said the frigid winter delayed the start to the 2014 spring home buying season and helped boost sales in May and June.

"Although this boost was and still is expected to be transitory, sales have yet to show signs of cooling as activity strengthened slightly further over the summer," the association said in its updated forecast.

http://www.therecord.com/news-story/4862027-home-sales-forecast-boosted/

Whelp.

maxidious fucked around with this message at 02:26 on Sep 16, 2014

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maxidious
Sep 25, 2007

Meh
You guys are the worst armchair economists :smuggo:

-----

Average house price in Canada rises almost 6% to $413,649

House prices in Canada are moving even higher, according to Canadian Real Estate Association data released today.

The average price of a Canadian home sold in November was $413,000, an increase of 5.7 per cent over the previous 12 months.

The number of sales in the first 11 months of this year is also up, by about five per cent, compared to 2013's level.

http://www.cbc.ca/news/business/average-house-price-in-canada-rises-almost-6-to-413-649-1.2873346?cmp=rss

maxidious
Sep 25, 2007

Meh

Baronjutter posted:

Friend who's moving to Edmonton for is buying a house ASAP because renting there for even a month or two first would be a month or two of throwing away your money and not building your own equity. He'll be there for 3 years. Hooray military! (this is the same guy who lost about 60k selling his previous military condo, even after the military paid all his soft costs). It's a shame military employees are forbidding from ever renting, which is good because imagine if people who had to move around every few years rented instead of kept buying and selling houses over and over? That just wouldn't work out!

Sorry I don't understand this, why are military employees not allowed to rent?

edit: nevermind!

maxidious fucked around with this message at 01:43 on Dec 20, 2014

maxidious
Sep 25, 2007

Meh

Xoidanor posted:

It's quite an experience to say the least...

Link?

maxidious
Sep 25, 2007

Meh

PT6A posted:

Prescriptions will probably be done in person for some time yet, but I think Canada's just behind the curve when it comes to grocery delivery.

It's actually one of the delivery services I want the most. It's trivial now to order prepared food from pretty much anywhere, why can't we have the same thing with ingredients? I hate grocery shopping with a passion.

Not true, most insurance carriers are now pushing for home delivery services for maintenance prescription medication. The only problem is someone has to be at home to receive the delivery.

maxidious
Sep 25, 2007

Meh

Guest2553 posted:

Gonna rebalance the hell away from the 25% Canadian equities I currently hold in my TFSA (it fell from 30% given how much everything else appreciated lol). Aiming for 15% and bumping US/int'l to 30% each so I can still have 25% bonds.

I'm hardly a market timer but Canada is only like 4% of the global economy and that ship is going down so :canada:

Investing in the Canadian economy is a huge mistake atm no matter how crazy CI sounds most of the time. The economy just isn't diversified enough.

maxidious
Sep 25, 2007

Meh

quote:


More than quarter of Canadian mortgage holders are 'in over their head' even before rate hike

More than a quarter of Canadians with a mortgage say they “are in over their head” with current payments, a new survey reveals.

The Ipsos poll taken for bankruptcy service MNP Ltd. found Canadians are worried about a potential housing bubble and impending interest rate hikes, adding financial stress to households already carrying a record level of debt.

The Bank of Canada is now widely expected to hike its key rate this Wednesday, with some economists forecasting a second hike before the year is out.

The poll found that 45 per cent of Canadians and 48 per cent of homeowners are concerned about the impact rising rates will have on their finances.

“Many are borrowing against their homes and using them to finance lifestyles they simply can’t afford,” said Grant Bazian, President at MNP LTD.

“What’s worse is that many are not making regular payments against the principal, and the threat of an increase in interest rates might make it even harder to make ends meet.”

Over 70 per cent of Canadians rate their ability to cope with a 1% interest rate increase as “less than optimal.” And the majority of Canadians (77 per cent) would have difficulty absorbing the additional $130 per month in interest payments on debt.

“Canadians should be bracing themselves for some major financial changes,” said Bazian.

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maxidious
Sep 25, 2007

Meh
I've always kind of assumed when things go real bad they will just bail everyone out by making mortgage interest tax deductible.

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