Dividing the real estate market into ‘us and them’ would be a costly mistake for our economy

When it comes to housing, it’s not just about us and them.Many believe that the recent rise in housing prices in Canada was fuelled, to a large extent, by foreign homebuyers (them) and not by Canadian residents (us). However, such divisive binaries do not explain all the forces at play.A recent analysis of mortgage issuance by the CMHC revealed that the participants in housing markets [...]

12 February 2018

Can I put my mortgage in my RRSP and other burning questions as the deadline looms

There are just three weeks left of “RRSP season,” meaning that if you want to be eligible to claim a deduction on your 2017 tax return, you need to make your contribution by the March 1, 2018 midnight deadline.To give you that extra motivation to contribute, here’s a few lesser-known tips and tricks that you may wish to consider.Should I even bother with RRSPs?In a previous column, I m [...]

12 February 2018

Just 39% of Employees Want to Negotiate Their Salary

Staffing firm Robert Half (NYSE: RHI) just released the results of a survey about the negotiating going on with starting salaries. And only 39 percent of the respondents said they tried to negotiate pay with their last job offer. The survey pointed out differences between genders and age group, as well as the many different cities across the country. The survey was carried out by an ind [...]

09 February 2018

What to do when your adviser retires — just as you are heading into retirement, too

Joe and Mary were finally headed into retirement.  They were in good financial shape, and many things seemed to be falling into place. But just as they started to move ahead with confidence, the first shoe dropped. Joe’s doctor of 25 years was retiring. He would have to find a new one. Then it was their accountant, her dentist and finally their financial adviser. It made sense.The [...]

07 February 2018

Foreign buyers' influence on Toronto and Vancouver housing markets is rising: report

Mortgage data from Canada’s five largest banks suggests a rising influence on housing markets by foreign buyers – many of them young people funded by their parents.In Toronto and Vancouver, non-permanent residents represented nearly 10 per cent of buyers under the age of 25 who were issued mortgages in 2016, suggesting some “may be receiving parental support,” according to a repo [...]

07 February 2018

Haider-Moranis Bulletin: Why you'll be waiting a long time for family-sized condos

It’s a frequent refrain from young condo-dwellers looking to upsize or start a family without fleeing to the suburbs: Why aren’t there more large units  downtown?A recent report by the City Building Institute (CBI) at Ryerson University and a survey by Environics Research both highlighted the need for three-bedroom units in Toronto, arguing that developers an [...]

23 November 2017

Expect your divorce’s dirty laundry to be aired in public, unless you live in Quebec

Canada’s incoming Governor-General, Julie Payette, recently sought to have the contents of her Maryland divorce file sealed. It’s a sentiment that many who have gone through a divorce probably share.Unfortunately for Payette and for most Canadians, the courts here set a high bar for restricting the public’s access to court files.Except for Quebec, all other Canadian provinces presume that bo [...]

20 September 2017

Think your defined benefit pension is money in the bank? Think again

CALGARY — Sue Earl, a 38-year Sears Canada employee, was shocked when she found out she would only initially receive 81 per cent of the value of her pension as part of the company’s insolvency process. The 64-year-old from Cobourg, Ont., had assumed her defined-benefit pension was “money in the bank,” a guaranteed amount she’d receive in retirement regardless of the financial health o [...]

18 September 2017

Canada might be hit if second hurricane Irma develops

HALIFAX — Although Hurricane Harvey isn’t expected to have much of an impact on Canada, forecasters are warning of another potentially powerful storm that could blow through eastern parts of the country next week. Halifax meteorologist Jim Murtha said Harvey — which strengthened to a Category 2 storm as it steered toward the Texas coast on Friday — could bring some rainfall anyw [...]

26 August 2017

Everything is offensive: Here are Canada’s other politically incorrect place names

Last week, the Elementary Teachers’ Federation of Ontario called on all school districts to strip the name of Sir John A. Macdonald from all Ontario public schools, reasoning that he was the “architect of genocide against Indigenous Peoples.”  They’re not wrong that Macdonald has a pretty dismal record on Indigenous relations, but if Canada is going to be pulling down every [...]

26 August 2017

New U.S. ambassador to Canada Kelly Knight Craft to start job in October

United States President Donald Trump's pick for Ambassador to Canada will start her new job in October, the U.S. embassy has confirmed. "The Ambassador-designate is very much looking forward to her arrival," a spokesperson for the embassy told CBC. "She still has a number of obligations in the United States and expects to arrive in early October." Kelly Knight Craft wa [...]

26 August 2017