“Burdened by debts” – Canadians are struggling as their debts are growing

We are sacrificing our vacations, going out less often, taking on a second job or returning to work although we didn’t plan to do it. We are cutting back on such essentials as food and clothing. As debts grow, many Canadians are already feeling...
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25% of Canadians plan to purchase an investment property during the next 5 years

According to a recent survey conducted by Royal LePage, more than a quarter of Canadians want to purchase an investment property within the next five years. However, high interest rates have made some property investors think about whether it’s a good idea not to...
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Canadian homebuyers need financial help from their parents

The national real estate market is facing another wave of buying madness following one of the sharpest housing price drops in Canadian history. Now, homes in Toronto are selling the day they enter the market. In Vancouver, lines for open houses are blocks long....
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A Scotiabank economist explains why the Bank of Canada has to raise its overnight rate again

Last week Jean-François Perrault, senior vice president and chief economist at Scotiabank, called for another rate increase by the central bank. In his opinion, such a move will help the Bank of Canada strengthen its competence for Canadians. According to him, although increasing the...
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Bank of Canada points to hike in homebuyers’ financial stress

The central bank expresses growing concerns over the ability of households to cope with their debts amid higher interest-rate conditions, as more homeowners are beginning to rely on credit cards to manage their expenses because of larger mortgage payments. According to the Bank of...
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