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After retirement, is it in your best interests to own your own home?
It’s a debate full of unpredictable variables: is it best to maintain home ownership and rely on equity to generate income after retirement; or to sell your home, invest the proceeds, rent and live off the dividends?
Continue reading “Is Home Ownership Actually a Hindrance in Retirement?”
Historically the cost of a home has equated three times the average Canadian worker’s income after tax.
The average debt-to-income ratio for Canadians has hit a record high: 145 per cent, according to a report from the Vanier Institute. Home purchase is, arguably, the greatest influence on this number. Historically the cost of a home has equated three times the average Canadian worker’s income after tax. Now that value is about five times the average income earner’s after-tax salary.
Continue reading “Canadian’s Debt Loads Reach All-Time High”
Research illustrates that as employment possibilities decline, mortgage arrears rise.
A direct correlation between the number of jobs available in Canada and the number of mortgages in arrears has been shown in information gathered by Statistics Canada and the Canadian Bankers Association, and conveyed by Will Dunning Economic Research.
Research illustrates that as employment possibilities decline, mortgage arrears rise and, reversely, as job availabilities open, mortgage payments are made on time and arrears decline.