So the CMHC came out with a report this week that confirmed what most folks looking for a house already know, and that is Most Canadian Housing Markets Overvalued, Price Growth to Slow Through 2018. Houses being overvalued in major areas of Canada (e.g. Toronto, Vancouver, etc.,) is nothing new, we have been talking about the housing bubble there for years, but now there is talk of this causing a domino effect where other areas housing prices are also increasing (for no clear good reason). Will the new regulations about Mortgages slow this down? We shall see!
Interesting that Belgium is the one country stopping the new trade deal with Canada, and it is not even all of Belgium, it ends up being a small minority holding all of Europe hostage? Interesting how these things happen that way. Evidently there is a compromise that has been reached? We shall see.
Seems the CIBC (specifically CIBC Investor Services Inc) were caught overcharging their customers for Mutual Funds and ETFs dating back to 2002, but because they said it was accidental, they are hoping to not have to pay a penalty? I wonder what would happen if I accidentally forgot to pay my taxes? Food for thought.
Monday is Halloween, you know what that means? Christmas season has already started, to quote Count Floyd, “That sure is scary kids!“.
My Writings for Week Ending October 28th
I did resolve this year to move away from the TD Mutual Fund accounts that I still have open, and the first step I took was moving my Emerg Fund from TD Mutual Funds to Questrade, but I had to wonder about10 Day Investment Account Transferals, and why does it take that long? It is only one computer talking to another.
Spooky Money Stories
Ooh kids, these are going to be some scary money stories (to paraphrase Count Floyd):
- This week a lot of financial folk are talking about the new rules for reporting income that came with the new mortgage rules, and the Blunt Bean Counter gets very specific with,The New Principal Residence Reporting Requirements Large Implications for the Average Canadian, read it carefully.
- Million Dollar Journey gives us a very useful story (which I could have used when I left Nortel) aboutHow to Transfer a Work Pension to a LIRA (I did that, but it wasn’t easy).
- Sean Cooper writing on Retire Happy asks,Will your retirement be your victory lap? I am hoping I can still walk a lap ! Remember to go to the gym to work on your retirement .
- Barry from Money We Have fires a salvo at one of my most hated topics withPay Day Loans are the Worst. I must agree, Pay Day Loans Suck!
- ABC must have Captain Obvious writing for them, as they point out,Slippery Slope: Study Finds Little Lies Lead to Bigger Ones
- Robb from Boomer and Echo weighs in on the new mortgage rules, with his own statements in Cool It. The Feds Aren’t Killing The Housing Market
- Just a precautionary note,There’s a 90% chance the Apple power accessories you bought on Amazon are fake.
- Do you know how much government agencies are relying on Artificial Intelligence these days? Reuters brings us, ‘Siri, catch market cheats’: Wall Street watchdogs turn to A.I.. Wired goes one step further with, Sure, A.I. Is Powerful But Can We Make It Accountable? Also a good question. What if the Complaints department is just another AI ‘bot?
- The Canadian Couch Potato ends his series of 10 articles, withSmart Beta ETFs: Summing it All Up, have a read if you are looking for more understanding of investing.
- How will Mark from My Own Advisor survive in retirement, he gives us some ideas withÂGenerating Retirement Income.I plan on selling pencils on Rideau Street.
- Michael James chimes in with his statement about the folks complaining that the government is somehow infringing on folks’ right to own a house with his article,Crazy Mortgages, and there are some crazy ones out there.
Currency Conversion?
Preet brings us a new video about how you should pay for things while on vacation (or out of country). He sure does draw some fine (and fast) cartoons! Too bad he doesn’t seem to know how a razor works?
A Final Thought on Elections
Trying to stay out of this, but this one, was just too funny
On November 8th, America will face a difficult choice.
— Stats Canada (@stats_canada) October 23, 2016
In Canada, the president has already chosen. pic.twitter.com/n01TUt5CPx
2016 Random Thoughts
- January 7th, Market Meltdown, TFSA, WildCard Weekend and #MoneyStories
- January 14th, Cheap Oil, Cheap Dollar, Dead Folk, and #MoneyStories
- January 21st, Loose Money, High Household Debt, Weak Loons and #MoneyStories
- January 29th, Doomsday Clocks, Rogue RRSP Receipts, Cash Crops and #MoneyStories
- February 4th Bouncing Loonies, RRSP Season, Superb Owls and #MoneyStories
- February 12th Lent is Here, Bricked iPhones, Love Day and #MoneyStories
- February 19th Digging Out, Ransomware, RRSP Time and #MoneyStories
- February 26th RRSP Time and #MoneyStories
- March 4th Welcome Americans and #MoneyStories
- March 11th Bank Rate Stays Put, Spring Forward and #MoneyStories
- March 18th Financial March Madness, Budgets and #MoneyStories
- March 25th, Easter is Here and some #MoneyStories
- April 1, Money Fools, Ronnie, and #MoneyStories
- April 8, Tax Time, Spring Delayed, Panama Papers and #MoneyStories
- April 15,Loose Money, Free Stuff, Hockey and #MoneyStories
- April 22,Disabilities, Tax Time, The Queen and #MoneyStories
- April 29,Pitter Patter Tax Time, RESPs are For Rich Folk and #MoneyStories
- May 6, Fort Mac, Mothers and #MoneyTalk
- May 13,
- May 20, Victoria Day, The People’s Elbow, Haircuts and #MoneyTalk
- May 27, Loose Money and #MoneyTalk
- June 3, CRA Itunes Pmts, RESP Scams and #MoneyTalk
- June 10, Portal to Hell Opens in Ottawa, BoC FSR and #MoneyTalk
- June 17, Fathers Day, Trump Housing Bubble, and #MoneyTalk
- June 24, Brexit, Fete National, Enhanced CPP and #MoneyTalk
- July 1, Happy Canada Day and Best Mid-Year Financial Stories
- July 8, Brexit Market Mayhem, Millenial Bashing and #MoneyTalk
- July 15,Brexit Hurts, Loose Money, Postal Strikes, Recounts and #Moneytalks
- July 22,More Pensions, New CTC, and #MoneyTalk
- July 31, Unknown Long Weekend, Windows 10 and #MoneyTalk
- August 5, The Olympics, Topless Spelunkers, and #MoneyTalk
- August 12, Women Rule, Less Jobs and #MoneyTalk
- August 19, Obnoxious 30 Year Old Retirees, Olympics and #MoneyTalk
- August 26,Farewell, EpiPens, Ombudsman Report and #MoneyTalk
- September 9,
- September 16, Unemployment Up, On the Money, Debt and #MoneyTalk
- September 23, Rate Rises, Winter is Coming, Access Neutrality and #MoneyTalk
- September 30, Bye Bye CSBs, 36 Million Strong and #Moneytalk
- October 7,
- October 14, Henson Trusts, RDSP Gripes and #MoneyTalk
- October 21, RDSP , New Mortgage Rules Hurts Economy and #MoneyTalk
My Twitter feed is where I re-tweet many great articles by some of my featured writers (and make the occasional odd or off-color commentary on life (in 140 characters or less)). I am also on reddit, Tumblr, Pinterest , Flipboard, Instagram and other Social Media sites (look for the BigCajunMan userid) as well. If you have social media accounts, don’t forget to vote for my posts (see the nifty dashboard on the bottom of each article, where you can cast your votes).As they say in Quebec, vote early and vote often!
