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Showing posts from September, 2017

Buying real estate in a country other than the one you reside in, is a perfect way to truly spread your wealth to ensure you have a real safety net.

When you own a property in a different country, you are truly moving your wealth away from any risk you have at home.

Sears Canada will close 10 more stores

1,200 people will be affected by these closures. That's in addition to the 2,900 that will be jobless by the end of the day on Sunday as a result of store closures announced in June.

Scarborough Museum is set along the walking trails of beautiful Thomson Memorial Park, once the farm fields of Scarborough’s first settlers and now a popular heritage community.

The museum shows the history and development of Scarborough from its founding and early settlement to its growth and emergence as a major suburb in the 20th century. The site and its gardens are situated on property first granted to David and Mary Thomson, who settled in Scarborough in the late 1790s.

Scarborough Museum consists of four buildings that were moved to the site between 1962 to 1974. These include: Cornell House, a clapboard, Scarborough vernacular-style farmhouse; the McCowan Log House, restored to its 1850s appearance; Kennedy Gallery, a small former farm outbuilding; and the Hough Carriage Works, which houses a collection of artisans tools donated by the Hough family who operated the original shop at Hough's Corners.

Scarborough Museum offers visitors an opportunity to connect to the past through youth programming, camps, school trips, exhibits and special events.

The province has indicated a willingness to impose a vacant property tax

A way to implement such a tax is being looked at now, especially in light of the increased popularity of Airbnb and similar websites.

Mortgage interest rates have been climbing lately.

Mortgage interest rates are driven upward or downward based on the yield for 5 year bonds.
Cheap 2.35% money isn't available now as it was a year ago.

Due to affordability issues, many millennials are planning to move out of the GTA in search of more housing options.

About one-third of the GTA's young up-and-coming talent are leaving, which is not good for the economy.

Headquartered in Toronto, Ontario, with offices in Calgary, Alberta and Vancouver, British Columbia, Street Capital is a wholly owned subsidiary of Street Capital Group Inc., a publicly traded financial services company listed on the Toronto Stock Exchange (TSX: SCB).

Street Capital Bank of Canada commenced operations as a bank on February 1, 2017. Founded in 2007 as Street Capital Financial Corporation, the company became a highly successful residential mortgage lender, and in its tenth year of operation received approval to continue as a Schedule I bank.
Street Capital Bank of Canada is one of the largest national broker-sourced residential mortgage lenders by market share, having originated over $40B since inception.

A year for condo sales.

As of the end of July, condo apartments in high-rise and mid-rise buildings and stacked townhomes accounted for almost 80 per cent of the year-to-date sales of new construction homes in the GTA.

Middle-class families in Canada are paying higher income taxes compared to a few years ago

Fraser Institute said in a report Tuesday that 60 per cent of the 3.88 million families included in its study are paying higher income taxes under the current government.

The cleaning and building maintenance industry is a multi-billion dollar industry.

The amount of growth and services required has exploded

New affordable housing project opens in Moose Jaw

September 25, 2017
by via CMHC News Releases — All Releases

Oak Street housing project receives financial support for new affordable housing units

September 19, 2017
by via CMHC News Releases — All Releases

Giving students the opportunity to transform affordable rental housing in Canada

September 19, 2017
by via CMHC News Releases — All Releases

100 affordable housing units for seniors in Repentigny

September 18, 2017
by via CMHC News Releases — All Releases

There were 6,357 home sales in the Greater Toronto Area (GTA) in August 2017

Which is a 34.8% year-over-year drop. This is following a 40% drop in July.

How to improve credit score?

According to Equifax, there are several things you can do that may improve a low credit score, including:
• Pay all your bills on time to avoid late payment penalties.

• Check your credit report for errors and correct them with the credit bureau.

• Take note of where you've performed poorly so you can do better (for example, if you consistently pay your bills late, make it a priority to start paying on time).

• Pay down your credit cards and other revolving debt to reduce your credit usage.

• Make more than the minimum payment on your credit cards to reduce your balance faster.

• Don't go over your credit limit and use only a percentage of your available credit.

• Be cautious when seeking more credit and take on credit wisely.

Your credit score is calculated by weighing different factors from your credit report.

According to Equifax, the most important factors that go into determining your credit score are:
• Payment history: What is your track record for making payments on time? This is the most important factor and makes up a large percentage of your credit score.

• Credit usage: How close are your balances to your credit limits?

• Amount of credit you owe: What are the balances on your credit accounts?
How much money you owe on your credit accounts can impact your score.

• Length of credit history: How long have you been building your credit history? The score tends to get better with time, which is why young people who have a very limited credit history tend to have lower scores.

• Searching for new credit: Are you looking to take on more debt? Your overall credit score will change every time you apply for and get new credit.

• Credit mix: What types of credit do you have? More diverse types of credit may have an effect on your score.
Knowing what goes into your credit score can help you …

Knowing and understanding your credit score is the first step in taking control of your financial future.

In general, credit scores are used by financial institutions and other parties, together with other data, to evaluate the level of risk you present as a client. Credit scores are most commonly used to evaluate credit card and loan applications, but they're also used by employers, landlords, insurers and mobile phone providers. Generally, a higher credit score can help you get a higher limit, lower rates or other preferential terms.

Higher earners and corporations will pay more tax to help pay for BC expenditures.

People earning more than $150,000 a year will now face a personal income tax rate of 16.8 per cent up from 14.7 per cent.

The NDP will also increase the general corporate income tax to 12 per cent up from 11 per cent.

Groundbreaking for new seniors housing in Edson

September 11, 2017
by via CMHC News Releases — All Releases

Official opening of eight affordable housing units for families in Saint-André

September 11, 2017
by via CMHC News Releases — All Releases

Canadian housing starts trend increased in August

September 11, 2017
by via CMHC News Releases — All Releases

Ontario to open up dozens of storefronts to sell marijuana: sources

Ontario reportedly plans to open dozens of storefronts across the province to manage the sale and distribution of recreational marijuana after the federal government legalizes its recreational use.

Labour Market Growth Continues as Canada Gains 22,000 Jobs in August

Continuing on a nine-month long growth trend, Canada gained 22,000 jobs in August as declines in full-time work offset growth in part-time.

Governments of Canada and Ontario announce funding for affordable rental housing in Val Rita

September 7, 2017
by via CMHC News Releases — All Releases

Canada embraces a wide diversity of culture with one in five people being foreign born.

A recent Ipsos study among approximately 2,100 self-identified multicultural Canadians estimated that there are 8.2M multicultural Canadians—and that number is projected to increase to 12.6M by 2031.

Canadian dollar jumps to above 82 cents US as central bank hikes for second time this year

Loonie jumps to highest level in 2 years as Bank of Canada raises benchmark interest rate again

Equifax Canada says non-mortgage consumer debt climbed 3.3 per cent year-over-year in the second quarter

It warns that consumers' ability to keep up with their debt payments could be affected as interest rates and borrowing costs rise.

No one doubts the Bank of Canada will raise interest rates again soon

The country's economy has turned out to be much stronger than anyone was predicting only a few months ago.

The Toronto District School Board has been warning new home buyers in certain neighbourhoods that not all children will be accommodated in their home school.

Toronto public schools in condo-heavy neighbourhoods are starting to feel the squeeze of a dense population.

An acute housing crisis is starting to grip thousands of other families in south-east Texas

More than 180,000 houses in the Houston area have been badly damaged.

Canada’s economy grew at a 4.5 per cent pace in the second quarter

This blew past even the most bullish estimates and convincing economists the Bank of Canada will raise its benchmark interest rate before the end of the year, perhaps even next week.

Harry Potter’s Hogwarts School of Witchcraft and Wizardry

Hogwarts School of Witchcraft and Wizardry is the British wizarding school, located in the Highlands of Scotland in the Harry Potter films.

Hogwarts holds a feast for every occasion, there is so much food. The opportunities are endless when it comes to pranks people could pull while wearing the invisibility cloak. Plus, you get your own owl and house elf.