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While Vancouver and Toronto chill out, Montreal home sales post best July in 8 years + MORE Aug 5th
Forget Vancouver and Toronto _ Canada’s hottest housing market these days may be Montreal.
The Greater Montreal Real Estate Board says 3,075 homes were sold in July, climbing 16 per cent compared to a year ago and the most for the month in eight years.
That contrasts with Toronto, where sales .... More »
Kathleen Wynne’s re-election bid is off to a bad start + MORE Mar 28th
As a rule, voters love to be bribed with their own money. However, I am cautiously pessimistic that this maxim is not going to work for the Ontario Liberals.
The election is only three months away and Premier Kathleen Wynne—deeply unpopular and behind in the polls—is handing out multi-billion do.... More »
Mixed Up Money’s Alyssa Davies on striving for CoastFIRE, the value of time, and more Jan 12th
Alyssa Davies doesn’t let complex calculations get in the way of making sound financial decisions—though she does advocate for tracking your spending. “I strongly believe that money is less about numbers and math, and more about emotions and feelings,” she writes on her award-winning blog, M.... More »
Books you need to read before retirement + MORE Apr 6th
(Pexels.com)
In the last six months, at least three new Canadian books have been published that bear the word “Retirement” in their titles (counting the one I co-authored with Mike Drak.). I’ll leave it to others to review Victory Lap Retirement (indeed, it was excerpted in MoneySense last sum.... More »
Iran exports first oil shipment to Europe since nuclear deal + MORE Feb 14th
TEHRAN, Iran – Iran says it has exported its first crude oil shipment to Europe since it reached a landmark nuclear deal with world powers, the official IRNA news agency reported Sunday.
IRNA quoted Deputy Oil Minister Rokneddin Javadi as saying the shipment was the first in five years and mar.... More »
Fed comments add to jitters about China economy but economists warn of overblown fears
– canadianbusiness.com
BEIJING, China – The Federal Reserve chief’s rare comments on China reinforced unease its weakening economy might be headed for a deeper slump. But many experts still think fears of a China crisis are overblown.
The world’s second-largest economy has been stubbornly resistant to stimulus following five interest rate cuts since November. Growth in many industries is still decelerating. August exports and auto sales shrank.
On Thursday, U.S. Federal Reserve chairwoman Janet Yellen mentioned China along with inflation after Fed governors put off a long-expected interest rate hike. Such concern is unusual for the Fed, which usually limits its focus to the U.S. economy.
“The question is whether or not there might be a risk of a more abrupt slowdown than most analysts expect,” Yellen told reporters.
Much of China’s slowdown is self-imposed as part of the ruling Communist Party’s effort to replace a worn-out model based on trade and investment with more self-sustaining growth driven by domestic consumption…
The world’s second-largest economy has been stubbornly resistant to stimulus following five interest rate cuts since November. Growth in many industries is still decelerating. August exports and auto sales shrank.
On Thursday, U.S. Federal Reserve chairwoman Janet Yellen mentioned China along with inflation after Fed governors put off a long-expected interest rate hike. Such concern is unusual for the Fed, which usually limits its focus to the U.S. economy.
“The question is whether or not there might be a risk of a more abrupt slowdown than most analysts expect,” Yellen told reporters.
Much of China’s slowdown is self-imposed as part of the ruling Communist Party’s effort to replace a worn-out model based on trade and investment with more self-sustaining growth driven by domestic consumption…
Growing popularity of laneway homes raises questions about adequacy of insurance
– canadianbusiness.com
TORONTO – Soaring real estate costs are pushing some Canadian cities to embrace laneway housing, touted as the future of affordable living in urban centres.
But as the properties become more popular and balloon in value, questions are beginning to arise about whether current insurance practices are sufficient.
Home insurer Square One Insurance says it has been fielding so many recent calls about laneway homes — most of them in Vancouver — that it’s started offering a separate product created specifically for the structures.
Daniel Mirkovic, the company’s president and chief executive, says in the past, laneway homes or coach houses were often $50,000 conversions of detached parking garages created by homeowners to house their adult children.
“Now, because of the high price of real estate, the whole concept of laneway housing has changed,” Mirkovic said. “When you’re looking at a laneway home that the owners have invested $200,000 or $300,000 dollars to build, that’s a very significant investment…
But as the properties become more popular and balloon in value, questions are beginning to arise about whether current insurance practices are sufficient.
Home insurer Square One Insurance says it has been fielding so many recent calls about laneway homes — most of them in Vancouver — that it’s started offering a separate product created specifically for the structures.
Daniel Mirkovic, the company’s president and chief executive, says in the past, laneway homes or coach houses were often $50,000 conversions of detached parking garages created by homeowners to house their adult children.
“Now, because of the high price of real estate, the whole concept of laneway housing has changed,” Mirkovic said. “When you’re looking at a laneway home that the owners have invested $200,000 or $300,000 dollars to build, that’s a very significant investment…
Germany’s Axel Springer sells all of its Russian media assets to comply with new law
– canadianbusiness.com
MOSCOW – The Russian subsidiary of a major German publishing house on Thursday sold all of its media assets in Russia to comply with a new law.
Russia adopted a law last year that limited foreign ownership in Russian media to 20 per cent, citing security concerns, and although the law does not come into effect until 2017, foreign companies are already looking for buyers.
Axel Springer Russia said in a statement Thursday that it has agreed to sell all of its assets in Russia, including the Russian Forbes magazine and several glossy magazines, to Russian-owned Artcom Media for an undisclosed sum.
While all nationwide television stations are controlled by the state, some print outlets with foreign ownership, including the Vedomosti business daily and the Russian Forbes magazine, often have been critical of Kremlin policies.
The upcoming sale of Russian media assets has raised fears that Western-owned independent newspapers and magazines will fall into the hand of Kremlin allies.
As part of Thursday’s deal, Axel Springer Russia’s long-serving chief executive, Regina von Flemming, will take a 20 per cent in the company and is expected to be appointed as CEO adviser next year, the company said…
Russia adopted a law last year that limited foreign ownership in Russian media to 20 per cent, citing security concerns, and although the law does not come into effect until 2017, foreign companies are already looking for buyers.
Axel Springer Russia said in a statement Thursday that it has agreed to sell all of its assets in Russia, including the Russian Forbes magazine and several glossy magazines, to Russian-owned Artcom Media for an undisclosed sum.
While all nationwide television stations are controlled by the state, some print outlets with foreign ownership, including the Vedomosti business daily and the Russian Forbes magazine, often have been critical of Kremlin policies.
The upcoming sale of Russian media assets has raised fears that Western-owned independent newspapers and magazines will fall into the hand of Kremlin allies.
As part of Thursday’s deal, Axel Springer Russia’s long-serving chief executive, Regina von Flemming, will take a 20 per cent in the company and is expected to be appointed as CEO adviser next year, the company said…
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Welcome to some Weekend Reading friends. A stressful week for us this week, our cat has not been well and we continue to monitor her health after what was almost an overnight stay at our local animal hospital. We hope she is on the mend and of course we only want what is best for her. It sucks when your beloved family pet is sick…
Earlier this week I shared some of my favourite takeaways from The Retirement Income Blueprint and there are so many things wealthy people do better than me.
I’m a fan of the Financial Facelift series in the Globe but the math is certainly suspect for the affluent couple profiled in this article.
Holy Potato wrote about non-registered investment tracking.
This article says oil could hit $20 per barrel.
For dividend investors, how many stocks to buy and hold? Check out what The Dividend Guy and other bloggers think (including yours truly).
Millennials, and even other generations, will get rich slowly by following the advice in this book…
Welcome to some Weekend Reading friends. A stressful week for us this week, our cat has not been well and we continue to monitor her health after what was almost an overnight stay at our local animal hospital. We hope she is on the mend and of course we only want what is best for her. It sucks when your beloved family pet is sick…
Earlier this week I shared some of my favourite takeaways from The Retirement Income Blueprint and there are so many things wealthy people do better than me.
I’m a fan of the Financial Facelift series in the Globe but the math is certainly suspect for the affluent couple profiled in this article.
Holy Potato wrote about non-registered investment tracking.
This article says oil could hit $20 per barrel.
For dividend investors, how many stocks to buy and hold? Check out what The Dividend Guy and other bloggers think (including yours truly).
Millennials, and even other generations, will get rich slowly by following the advice in this book…
