Vacancy in Canadian housing for retirees shows overall decline + MORE Aug 6th

U.S. President Barack Obama has announced plans to overhaul the nation’s mortgage finance system, including shutting down government-backed Fannie Mae and Freddie Mac — a plan with bipartisan support on Capitol Hill.

CIBC Mortgages 4 year Variable Opened mortgage rate was changed on July 26, 2013

Monday Makeover looks at a couple close to mortgage-free and 14 years from retiring, thanks to some prudent moves and good fortune.

Remember the line in Spiderman where Aunt May says, “You do too much…you’re not Superman, you know?”
Some parents think they’re Superman. Determined to set their children off on the right foot, they commit buckets of money to helping them achieve their goals. From private schools to smartphones, laptop computers and post-secondary education, even home down payments and on-going financial support, parents will dig deep to buffer their young’uns. Hey, I’m all for meeting your responsibilities to your children. After all, they didn’t ask to be born (or so I’ve been told). But some parents take “helping the kids” a tad too far.
When it comes to using your financial resources smartly, one of the trickiest aspects to master is balancing priorities. You want to provide a great place for your family to live. You want to create opportunities for your kids to have mind-expanding experiences. You want to plan for the future.
Planning for the future includes saving for school, getting the mortgage paid off, having some money set aside for retirement…

Shifting demographics across Canada have a profound effect on the Canadian housing market. Recent housing reports show an overall decrease in vacancies in retirement homes, but the trend does not cut across all provinces, leaving some communities wondering about the stability of the housing market for aging individuals.
According to the Canada Mortgage and Housing Corporation (CMHC) seniors housing report released on June 27, the overall vacancy rate for standard care retirement homes across Canada's Atlantic region fell to 11.2 percent from a level of 14.3 percent just the year before. The report signaled a strong demand for housing for retired individuals as the population in the region begins aging.
Atlantic region shows a strong retirement housing market
One outlier of the study is the Newfoundland and Labrador province where the vacancy rate rests at a staggering 25 percent, largely due to the higher volume of non-standard spaces, which include heavy care facilities.
Despite the continued high rate of vacancy, the region does show positive signs after dropping 12 percent from last year's levels…