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Canada’s housing bubble looks disturbingly familiar
– macleans.ca
(Shutterstock)Last March, Canada’s unstoppable bull market in housing entered its eighth consecutive year since recovering from a brief downturn amid the global financial crisis. Even that contraction looks like a mere blip when viewed against the long-term trend. The country’s real estate market has been on a tear for nearly two decades, enriching homeowners, burdening new home-buyers with debt and alarming policymakers.
Here on the inside, it’s easy to become complacent and assume the current trends are normal, if not sustainable. But step back, and Canada’s monster housing market becomes all too apparent. One way to do that is to compare it to the United States. On a few key metrics, Canada has far surpassed the U.S. at its peak. As David Rosenberg, the chief economist at Gluskin Sheff told BNN Thursday, “This bubble is on par with what we had in the States back in ’05, ’06, ’07. We have to actually take a look at the situation. The housing market here is in a classic price bubble…
The passive aggressive TFSA strategy
– moneysense.ca
Felix Rousseau
AGE: 25
PLACE: Comox, Vancouver Island
TFSA TOTAL: $35,000
STRATEGY: Couch Potato with low-fee index mutual funds
Me and my TFSA
Felix Rousseau, 25, a communications technician the military, is new to TFSA investing and just started contributing about two years ago. “I had $2,000 saved up in my chequing account at the time,” says Rousseau. But a chance encounter with Gordon Pape’s book, Tax-Free Savings Accounts: A guide to TFSAs and how they make you rich, it changed the way he views money. “The book talked about all the ins-and-outs, advantages and disadvantages of TFSA investing and I was hooked.”
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Rousseau has a strategy for his TFSA. He diligently saves 50% of his net income every month in a chequing account. Then, at the end of each month, he moves it into his self-directed TFSA. While he knows most experts would recommend having contributions come automatically out of his checking account, he prefers the hands-on approach for now…
