Skip to main content
Access every election story that matters
Enjoy unlimited digital access
$1.99
per week for 24 weeks
Access every election story that matters
Enjoy unlimited digital access
$1.99
per week
for 24 weeks
// //

A Vancouver house with an asking price of $2.4-million is pictured on Feb. 2, 2015.

Ben Nelms/The Globe and Mail

By Rob Carrick

After years of forecasts about a housing market correction in Canada, the housing bulls are starting to get cocky. Just check out this collection of forecasts from 2008-2013 that proved wrong. No doubt, the housing bears have so far struck out. But were they wrong, or just too early with their forecasts?

There's reason to wonder when you look at the speculative stuff happening in the Vancouver market. Here's a story about a property in suburban Langley that sold for $1.8-million only one month after selling for $1.2-million. As crazy as Vancouver is, sales and pricing statistics for February suggest it's offsetting other housing markets that are either lukewarm or slipping.

Story continues below advertisement

As a personal finance writer, I'm keeping track of how housing affordability is declining wherever prices keep rising. Maclean's recently had some fun looking at how expensive housing would be if prices keep growing at current levels.

Want to subscribe to Carrick on Money?

Click here to receive it twice weekly by e-mail.

Rob's top web links

The TFSA is not a toy
> An investment adviser cautions investors about the down side of using a tax-free savings account to take a flyer on stocks they think will jump in value.

Kitchen tools for the home chef on a budget
> Lots of ideas on where to buy the right tools, on the cheap.

Up close and personal with the S&P/TSX composite index
> A fun data-mining exercise on the stocks that make up Canada's benchmark stock index. Reading it is a great argument for global diversification.

Story continues below advertisement

Why you failed your new year's money resolutions
> Good insights here: You failed to set goals, planned big changes when small would have been more realistic…

Where do ETFs come from?
> I get a tonne of questions from readers about exchange-traded funds, a fast-growing, low-cost alternative to mutual funds. For all the newbies, here's a look at the origins of the ETF. The Toronto Stock Exchange gets its due for being in on ETFs from the beginning.

More on those expiring Air Miles
> A previous edition of this newsletter looked at how Air Miles points older than five years start expiring at the end of this year. Here's some more information on how to prevent your points for expiring without being used up.

Today's featured investment tool
The online community Reddit has a Canadian personal finance page that offers a forum where you can pose a question and get answers from your peers.

Ask Rob
The question:
"What are the mutual funds for the senior crowd? It seems you always talk about those individuals who are about to retire – what about those who are there?"

My reply: The closest thing to a mutual fund for seniors is the monthly income fund, which is offered in both mutual fund and exchange-traded fund formats. These funds hold diversified portfolios of income producing investments such as bonds, dividend-paying commons shares and preferred shares. They're worth some thought if you're a senior looking to convert accumulated retirement savings into regular income.

Story continues below advertisement

Do you have a question for me? Send it my way. Questions and answers are edited for length.

Featured Video
Are you a loser if you have a savings account in your TFSA? Find out in my latest Carrick Talks Money video.

Attention, Generation Y
We're launching a Gen Y Money page and welcome your questions about money. Answers will be supplied on our website by a pair of millennial financial advisers. Send your questions to rluciw@globeandmail.com. Make sure to include your first name, age and where you live.

More Carrick and money coverage
For more money stories, follow me on Twitter and join the discussion on my Facebook page. The Globe's personal finance Twitter account is here.

Send us an email to let us know what you think of my newsletter.

Want to subscribe? Click here to sign up.

Story continues below advertisement

Report an error Editorial code of conduct
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

If you do not see your comment posted immediately, it is being reviewed by the moderation team and may appear shortly, generally within an hour.

We aim to have all comments reviewed in a timely manner.

Comments that violate our community guidelines will not be posted.

UPDATED: Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies