The more mortgage debt young people carry, the more vulnerable they are to ‘negative shocks’ to income and higher interest rates.Kevin Van Paassen/The Globe and Mail
The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.
A warning to young Canadians about real estate
This blog post argues that young adults shouldn't let their parents talk them into buying a house. Parents benefited from a long cycle of interest rate declines that boosted housing prices. As a result, houses are much more expensive than they used to be in relation to income.
Spa days for seven-year-olds?
The New York Times on how spas are targeting young kids. "They do deserve something special," said a mom who paid about $400 (U.S.) for a spa party for her daughter and friends.
The words that keep you from financial success
Try, wish and would like – a blogger calls them "weenie words" and says they get in the way of people making progress in reaching their financial goals.
Is laser eye surgery worth the cost?
I was curious about this as someone who has worn glasses and contacts for close to 35 years. Can't say I'm sold after reading this blog post.
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Rob Carrick