Real estate softens

Info on Canadian housing market, TFSA and holiday spending trends.

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by Stefania Di Verdi
November 15th, 2012

Online only.

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  • Canada’s real estate market continues to show signs of cooling. Transactions dipped ever so slightly in October from September while year-over-year price gains have slowed dramatically, CREA said Thursday. The December/January issue of MoneySense, which hits newsstands nationwide starting next week, has info on how you can not only survive but thrive in the new marketplace.
  • Four years in and still a lot of confusion about the TFSA.  Some 39% of Canadians have opened a TFSA but more than a third have trouble identifying contribution limits and what type of investments can be held within a TFSA, a new BMO report has found. The good news is more people without a TFSA are planning on getting one (29%).  Also in the December/January issue of MoneySense, we explain how the TFSA can make your kid a millionaire. It’s a must-read.
  • RBC is the latest bank to issue its holiday spending forecast for 2012. Poll results suggest Canadians will spend $1,182 on the holidays including gifts, decorations, entertaining and travel this year, down 6% from last year. Roughly $630 of that will be spent on gifts alone. More than half said they’ll dip into savings to spread cheer, while another one-quarter plan to use credit cards and the rest haven’t thought about it yet. RBC’s findings are slightly more conservative than BMO’s. Last week, BMO said Canadians were budgeting $675 for gifts and $1,610 in total.

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