The 10 Biggest Threats to the Global Economy Right Now

The 10 Biggest Threats to the Global Economy Right NowIn its latest World Economic Outlook, the International Monetary Fund (IMF) puts the chances of growth in global output falling below the recession threshold of 2% next year at just one in a hundred. Is this too sanguine a view? Global recessions are quite rare events, so if you had to put money on it, you’d go with the IMF. Even when one part of the world is in recession,…

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Harder for Gen Y First-Time Home Buyers to Get Into Market?

Harder for Gen Y First-Time Home Buyers to Get Into Market?Andrew MacLeod is part of demographic that apparently is being priced out of Canada’s housing market, but that didn’t prevent the 34-year-old from finding a way to buy his first home. MacLeod and his wife, 33, overcame current economic hurdles such as high property prices, tighter lending conditions and shaky job markets to purchase their four-bedroom, two storey semi-detached house in Ottawa’s Lindenlea neighbourhood, which MacLeod cheekily describes as the…

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Owning a 4-plex Can Be a Pain

Owning a 4-plex Can Be a PainOwning a rental property is one of the most popular ways to generate passive income, but it’s not always easy. We purchased a 4-plex through a short sale process in October 2011 and my rental income projection was quite wrong. I finally finished our 2012 tax return and I can share the details from the 4-plex now. I’ll put it next to my original projection so you can see how…

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Canadian Housing Market Shows Signs of Stabilization

Canadian Housing Market Shows Signs of StabilizationThere were signs of stabilization in the housing market as prices continued to climb in January, while total sales fell from a year before, according to the Canadian Real Estate Association. The average national sale price of a home rose two per cent from January 2012 to $354,754 last month, while the number of homes sold in January declined 5.2 per cent from a year earlier. CREA says that’s due…

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Real Estate Becoming More Affordable

Real Estate Becoming More AffordableOwning your own home became slightly more affordable in the third quarter of 2011 thanks to continuing low interest rates, according to RBC’s latest study on housing affordability. The affordability measure captures the proportion of pre-tax household income that would be needed to service the costs of owning a certain type of home. In the third quarter, that index fell for all categories of housing. “Housing affordability levels are quite…

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Will Canada’s housing bubble burst?

Will Canada's housing bubble burst?Home ownership is at the centre of many Canadians’ financial retirement plans. That’s especially true for baby boomers who are sitting snugly atop a nice wave of real estate inflation. In fact, the average price of a detached home in Canada has doubled since 2000, and in September was sitting at $331,000. Of course that number pales when compared to Vancouver, where the average price for the same period was…

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