Housing affordability declines in Toronto, Vancouver + MORE Jun 22nd

Real estate arm of the Caisse partners with APG Asset Management for investment in firm specializing in mixed-use projects in Shanghai area

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I had a conversation with friends on vacation earlier this year and the subject of money was raised a few times.  One interesting money subject we discussed was where and how we spend our money.  I’m of the opinion that if we want to take good care of our finances, we must take responsibility for what we spend our money on.  My thinking is nobody really wants you to save money.  Well, maybe the bank.
Like Carl Richards nicely explained in his recent book The One-Page Financial Plan budgeting is beyond numbers, it could be considered an awareness exercise. Taking this approach budgeting can be used to reflect upon what you value in life.  More specifically what you value spending your money on.
I recently took at look at our budget and this is where our money goes every month.  Here are some reflections:

We pay ourselves first every month with automatic RRSP contributions. We invest in low-cost indexed products inside our RRSPs so I can conclude from this we are mindful of investing fees while making our financial future a priority…

(heydrienne / Flickr)
TORONTO – A report by RBC Economics says housing affordability continued to decline in Toronto and Vancouver, while conditions for homebuyers improved in Alberta during the first quarter of the year as lower oil prices caused the real estate market to soften.
RBC says mortgage rate cuts improved the affordability of homes in many Canadian housing markets where prices didn’t accelerate too rapidly.
That offset rapid price growth in Toronto and Vancouver, leaving national affordability levels relatively flat.
RBC says demand in softer markets such as Montreal and Ottawa began to pick up.
The RBC Housing Affordability study measures the proportion of household income that is needed to service the costs of owning a home at current market values.
On a national level, RBC says affordability edged 0.3 percentage points lower for condos to 27.1%, while for detached homes it declined 0.2 percentage points to 47.9%.
The bank predicts that rate hikes from the central bank, which is expected to raise its trend-setting overnight interest rate next year, are likely to erode affordability…

MEXICO CITY – The Mexican government has announced plans for nearly $10 billion worth of electricity and natural gas infrastructure projects, including a gas pipeline under the Gulf of Mexico from Texas to the port of Veracruz.
The Federal Electricity Commission said Monday that the costliest project would be the 500-mile underwater pipeline for carrying natural gas from South Texas. The pipeline is intended to go into operation in June 2018.
Officials hope that facilitating the importation of cheap natural gas will help lower Mexico’s electricity rates.
Other projects include power plants, electricity distribution, transmission lines and electrical substations.
Mexico passed a broad overhaul of its energy sector last year aimed in part at attracting more investment to electricity and petroleum.
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NEW YORK, N.Y. – Here are milestones for Martha Stewart Living Omnimedia Inc.
— 1997: Martha Stewart, a former caterer, establishes Martha Stewart Living Omnimedia, consolidating her books, the Martha Stewart Living magazine and a TV show under one umbrella. The business also includes Martha Stewart Everyday products at Kmart.
—1999: Martha Stewart Living goes public. Valuation hits $1.8 billion in the aftermath of its stock debut, with shares hovering at nearly $37.
—2001: Martha Stewart Living posts annual sales of $295.6 million. Profits reach $21.9 million, and prospects look strong.
—2002: News reports surface about Stewart’s questionable sale of ImClone shares, a day before the Food and Drug Administration announced it declined to review the company’s application for a cancer drug. Such scrutiny sets off a string of losses and sales declines at the company, as advertisers flee. The company finds it’s hard to separate the brand from the legal woes of its founder…