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How housing affordability is declining
– moneysense.ca
For the third year in a row Maclean’s asked economists, investors, analysts and financial commentators to submit what they think will be an important chart Canadians should watch in the year ahead—and they delivered, in spades. Here is just one of the many charts that help paint the picture of Canada’s economy for the upcoming year. Larry MacDonald picked this Bank of Canada Housing Affordability Index chart to show the likelihood of a housing market collapse based on historical data. See his insight below.
“The Bank of Canada’s Housing Affordability Index remains the indicator to watch in 2017 because if Canadians can no longer afford to own a house, it would dampen residential construction and undermine a key prop holding up the economy—not to mention possibly even endanger the financial system through rising mortgage defaults. The index, which tracks the proportion of disposable income that a representative Canadian family spends on carrying a mortgage and utilities, has indeed trended upward in recent quarters…
Lower your utility bill with these updates
– moneysense.ca
Low-flow fixtures
The typical Canadian spends about eight minutes in the shower and uses 9.1 L of water/minute. Install an energy-efficient showerhead and cut your water usage by 20%
Save up to $60/year
When to buy appliances
DEC. 26 (Boxing week) OR JULY (Mid-summer)
Stores are trying to move last year’s models to make room for new stock
Save up to 50%
Do buy…don’t buy
DO BUY: Prevent rust and corrosion with a stainless steel or plastic dishwasher basin or washing machine tub
DO BUY: Front-loading clothes washers use up to 85% less electricity and 75% less water than top-loader machines
DON’T: Skip the steam settings, as they only slightly improve stain cleaning
DON’T BUY: The cheapest appliance, as manufacturers usually cut costs by trimming performance, energy and water efficiency, and capacity
Don’t flush money down the drain
Toilet
Listening to your toilet consistently run is like flushing 5,585 bath-tubs of water down the drain…
Mosaic agrees to buy Vale fertilizer assets for $2.5 billion
– theglobeandmail.com
