Tag Archives: savings

Friday Free-for-all! May 26th 2016

It’s the end of another work week and you know what that means…

It’s Friday free-for-all time here at VCI. 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:

Housing market concerns at BOC
Broker Economist on concerns
Vancouver ‘freakshow’ market
Peterborough up 24% YOY
Save for 23 years
4 out of 10 caught short on money
lack of compliance on money laundering
high cost of ultra-low rates

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

Let the grandkids solve the TFSA problem.

If you’re someone who has your money somewhere other than Vancouver real estate you’re probably familiar with the TFSA.  And you probably know the limit has just been doubled to $10k a year.

Critics say this move only helps the wealthy and creates a future tax problem.

Joe Oliver says we should leave that problem for the PMs grand-daughter to solve.

On Tuesday’s The Exchange with Amanda Lang on CBC News Network, the finance minister told Lang that criticism of his recently unveiled budget is unfounded, arguing that the benefits for Canadians today more than offset any future revenue problems associated with it that may or may not ever come to pass.

The doubling of the TFSA limit to $10,000 per taxpayer every year was a core plank of Oliver’s balanced budget. But critics including the opposition parties and private sector economists have said the populist move will create a revenue problem for governments down the line, as more and more investments get protected from taxation.

So what do you think about the TFSA limit increase? A tool only for the wealthy or a bit of extra help for savers?

How to prepare for a housing bust

Garry Marr writes about the situation in Alberta over in the Financial Post. The drop in oil prices has hit their economy first and hardest with sales down by 30-40% over a year ago and growing listings.

So how do you prepare for a surprise economic hit like that?

Simple. Save up to cover for job loss, keep your debts and bills manageable and  don’t get into a situation where you have to sell when everyone else is selling.

Unfortunately Canadians aren’t doing so well on the debt front:

Debt reached an all-time high in the fourth quarter, relative to income. Statistics Canada says the debt to disposable household income ratio is 163.3%, much of it attributable to housing costs.

Read the full article here.

FFFA! Retirement, Prices, Dollar, Debt

It’s that time of the week again.

It’s Friday 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:

Who wants to try for 200%?
Rate fears push down dollar
Cognitive disconnect
We love us some debt
Real Estate School
Whats a mortgage default?
The RE-tirement plan

So what are you seeing out there?

Post your news links, thoughts and anecdotes here and have an excellent weekend!

FFFA! Debt, Zoocasa, Sellers, Economy, Rates

It’s the end of another work week and that means it’s Friday 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:

Realtor Hunger Index at 54%
Savings rate hits 5 year low
Zoocasa to stop publishing data
First Sellers market in 4 years
No more rate cuts?
Highest gas prices in North America
How do you make a return?
Sell your toys, don’t buy a house
Squamish bankruptcy for Rommel
What to talk about instead of RE?
Consumer debt hits $1.53 Trillion

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