Author Archives: Danielle Park

Canadian borrowers losing ability

Posted on July 11, 2017 by Danielle Park

Home sales in Canada’s largest city–Toronto–fell 37% year over year in June. Long overdue buyer exhaustion has finally been triggered after the Feds tightened mortgage insurance requirements last November and Ontario imposed a 15% tax on foreign purchasers in April.  … Continue reading →

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Many Canadians in over heads even without rate increases

Posted on July 10, 2017 by Danielle Park

A new poll conducted on behalf of accountants MNP offers more sobering insight on the financial fragility of Canadian households. See: 27% of Canadians already ‘in over their head’ with mortgage payments: MNP.  Here are some highlights: 30% say any drop … Continue reading →

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Canadians using homes as ATMs

Posted on July 6, 2017 by Danielle Park

We have encountered several people in the past year who have been gutting the equity in their homes via mortgages and ‘Home Equity Lines of Credit’ to speculate on other properties and security portfolios. Often they are doing so on … Continue reading →

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