Archive for September, 2008

How To Be Financially Safe?

Wednesday, September 24th, 2008

 

Good financial condition is important for any of us. Good job is usually the best way, how to secure yourself, your family, and qualify for mortgage. But what if anything bad happens to you?

Most citizens seek to lower the risk by purchasing life insurance Canada. This is the traditional option, however it is not completely open to all of us. Some of us have some pre existing medical condition, which restricts us from getting traditional insurance policy. Luckily, for such cases the financial market has created special product - no medical life insurance. This insurance product comes without medical exams and thus opens the way to financial security also for those of us, who have some pre existing medical condition.

Housing boom is over in Canada

Tuesday, September 23rd, 2008

"The boom in the housing markets is definitely over," Tsur Somerville, a professor in the Sauder School of Business at University of British Columbia said in an interview with The Star. "Depending on where you live, you can likely expect prices to fall further."

Canadian housing prices are decelerating quickly with the steepest decline in more than a decade, The Star reported. Analysts say homeowners in some regions should prepare for further depreciation. The average price of a residential home was $316,052 in August, a year over year drop of 5.1 per cent and the most since 1996. These figures were released by the Canadian Real Estate Association. Millan Mulraine, economics strategist for TD Securities said:

"The report underscores the current shift in the Canadian housing market, as the tone of activity moves slightly closer to a buyer's market"

In August, the city of Toronto also recorded a slight 1 per cent decrease in housing prices – the first negative number in more than a decade, The Star article reads.

(Housing boom is over in Canada continued...)

Low-rise market weakens sharply in August

Sunday, September 14th, 2008
low rise August 2008

July’s new home sales were only slightly changed from June’s, as actual sales (3,135) equate to 40,400 after seasonal-adjustment, up from 39,000 in June. Low-rise sales dropped sharply, with 850 actual sales equal to 11,300 seasonally-adjusted. Will Dunning explains:

"A variety of factors explain this, including reduced supply of new product, but also a sharply expanded resale inventory and uncertainty about the economy."

Resale market activity has exceeded 80,000 for four consecutive months and is now similar to levels seen in 2005 and 2006, the Dunning report concludes.

(Low-rise market weakens sharply in August continued...)