First-time buyers need help from family, friends to purchase homes

BMO report says over 10% of first-time buyers are looking for a financial gift of $100,000 or more

First-time buyers need help from family, friends to purchase homesA report released on Tuesday by BMO says first-time homebuyers across the country increasingly look for help from friends and family when purchasing a home due to household debt and higher interest rates. The report, conducted by Pollara Strategic Insights, found: Over one-quarter of Canadians are looking for a financial gift between $5,000 and $50,000.…

Why asking for a raise triggers intense anxiety

Many career-builders turn squeamish when it comes to asking for a raise through fear of rejection and how to broach the subject diplomatically

Why asking for a raise triggers intense anxietyMany career-builders turn squeamish when it comes to asking for a raise. The reasons include fear of rejection and discomfort about broaching the subject diplomatically. Often, it's hard pinpointing the exact reason. Maybe it has something to do with negative attitudes toward money often being passed from one generation to another. As children, parents and…

How to play corporate politics and win

If you expect to get ahead, you must understand and respect the power of organizational politics

How to play corporate politics and winIf you expect to get ahead, you must understand and respect the power of organizational politics. There is no escaping it. Fiercely competitive industries are rife with politics. Refusing to play organizational politics can be career suicide. Politics – the business of high-stake schmoozing and winning people over – aren't for everyone. But the measure…

Millennials have higher household incomes than Gen-Xers

Unfortunately, they also carry considerably more mortgage debt

Millennials have higher household incomes than Gen-XersDo you ever wonder why millennials are the demographic that everyone talks about today? It’s all about the money. Statistics Canada published some interesting data on Thursday showing that millennials had higher incomes and median wealth than young Gen-Xers at the same age, but also considerably more mortgage debt. “The study finds that millennials –…

Cost of housing pushing millennials to the suburbs

TD survey says young Canadians would prefer to live in urban neighbourhoods

Cost of housing pushing millennials to the suburbsA new survey says 81 per cent of Canadian millennials want to own a home but financial realities such as rising prices mean they have to look at the suburbs for affordability. The survey, released on Wednesday by TD, said 33 per cent of millennials say that city living is their preference but 64 per…

Canadian trade deficit narrows slightly

Economists call the latest StatsCan numbers disappointing

Canadian trade deficit narrows slightlyCanada’s merchandise trade deficit with the world has narrowed slightly going from $3.1 billion in January to $2.9 billion in February, according to Statistics Canada. The federal agency reported on Wednesday that following two consecutive monthly increases, total imports declined 1.6 per cent to $50.9 billion in February. Imports were down in eight of 11…

Mortgage stress test takes a bite out of new mortgages

Accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline

Mortgage stress test takes a bite out of new mortgagesThe mortgage stress test, B-20, accounted for an estimated 50 to 60 per cent, or between $13-$15 billion, of the overall decline in mortgage originations (the process by which a borrower applies for a new loan, and a lender processes that application) throughout 2018, according to a new report released Tuesday by CIBC Economics. The…

Small businesses hurting from not being paid on time

71 per cent of Canadian freelancers and micro-businesses struggle to get paid on time

Small businesses hurting from not being paid on timeIt’s an issue that many Canadian entrepreneurs face – getting paid in a timely fashion. Now, a new survey released Monday by Interac Corp., indicates just how big of an issue it has become. The survey said 71 per cent of Canadian side hustlers (freelance or piecework in nature, providing a supplemental income) and micro-businesses…

House prices falling across Canada

Calgary and Edmonton hit hard, according to report from real estate association

House prices falling across CanadaHouse prices are falling across the country, with significant declines in March in the Calgary and Edmonton regions. According to its regular monthly report, the Canadian Real Estate Association said the aggregate MLS benchmark price across Canada of $617,200 was down by 0.47 per cent year over year during the month. The report said the…
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