May 29 roundup

On eroding housing affordability, how RESPs withdrawals work and 1 cent time shares up for grabs.

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Housing affordability deteriorated sharply in Vancouver during the first quarter and to a lesser extent in Toronto, Montreal and Ottawa, according to a new study. The main culprit? Higher real estate prices, RBC said. Homes appear most affordable in Alberta.

•How do RESP withdrawals work? Can a family plan pay all contributions to one beneficiary and all the EAP to another? Mike Holman of Money Smarts blog has the answer.

•U.S. time shares are popping up on eBay for as little as 1 cent. What’s the catch? Thousands of dollars in annual maintenance fees.

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