Tag Archives: retirement

FFFA! Income, Losses, Investment

Its the end of another beautiful week and a long weekend to boot!

And that means it’s time for our regular Friday Free-for-all post, this is our end of the week news round up and open topic discussion thread for the weekend.

Here’s a few recent links to kick off the chat!

19.8% Avg loss at Olympic Village 2011-2014
Retirement savings at risk?
Oliver sees no bubble
CMHC brings risk to taxpayers
BC buyers seek investments
Canadian RE among most overvalued
$1000 house

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

Should you just move to an island?

Skook has a post over at VancouverPeak.com about an island dream gone sour.

A BC couple purchased land on Mayne island and started building their dream home only to run into a confluence of cost overruns and real estate market downturn.

Today, their house is only a wood frame shell that looks out over one of B.C.’s most dramatic views, with the Lower Mainland in the distance, and regular sightings of ferries, whales and seals. The tiered wooded lot is only a five-minute drive to the ferry.
It is the idyllic best that B.C. has to offer, and yet the Klingsats won’t even break even on the near $1-million they spent on the property and construction. They have relisted it for $539,000, after previous listings at $649,000 and $699,000 didn’t get any offers. “Everybody loves the place, but the people don’t want a house that’s not finished,” says Mr. Klingsat, who gave up on the project six months ago. “And I can’t do it. I haven’t got any more money to put into it. “The whole economy everywhere is lousy – nothing is gangbusters. There are places for rent all over here on Vancouver island.”

The original article in over at the Globe and Mail. Skook adds some extra thoughts and information.

RFM has also added some information summarizing other properties in that particular island market.  There are 113 properties for sale on an island with a population of 900.

FFFA! Density, Affordability, Retirement

Hey! It’s that time of the week again!

You made it to the end of another work week and that means it’s time for our Friday Free-for-all!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

Here are a few links to kick off the chat:

Even real estate consultants hate condo towers
Crappy buildings spur inspectors retirement
home is retirement plan for 24% of Canadians
Budget uses ‘make believe’ family income
homes: Buy one get one free

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!

30% of retirees return to work to pay bills

ING has released the results of a survey they did showing that 3 out of 10 retired Canadians ended up having to return to work to pay bills.

Many retirees simply hadn’t saved enough or underestimated the cost of living.

The surveys portray a notable disconnect between Canadians’ expectations of life after the workforce and the reality of the cost.

ING Direct said that respondents wished they had found more ways to save for retirement, that they had started saving earlier and hadn’t “spent money so mindlessly.”

“The reality of retirement for many Canadians is a sobering reminder that you can’t put your financial future on the back burner,” ING Direct president and CEO Peter Aceto said in a release.

“Among the many other financial priorities we face during our prime working years, we need to make sure that retirement planning doesn’t get overlooked.”

So how are your retirement plans dear reader? Are you betting it all on a house in Vancouver?  Are you just starting out and saving and investing, or are you finding it difficult to put enough aside for your golden years?

FFFA! Canada, Construction, Condos, Confidence

Wake up!

Grab some coffee and some left-over halloween candy, it’s Free-for-all time!

This is our regular end of the week news round up and open topic discussion thread for the weekend.

Here are a few recent links to kick off the chat:

Ready to count BOC out of rate hike?
Consumer confidence falling
‘red mitten’ benefit from winter games
Flaherty to give market a talking to
Housing Analysis construction activity
Buying Genworth?
Preparing for a stock market correction
Can we have some accurate data?
The foreclosure cup
Where’s the next property bubble?
Best places to retire

So what are you seeing out there? Post your news links, thoughts and anecdotes here and have an excellent weekend!