Check out this fantastic piece by Financial Post reporter Garry Marr on wild tales of buys, booms, and busts in the Canadian housing market – including a video interview with 100-year-old Ralph Etigson who discusses his housing purchases in Toronto over the last 75 years.
Mr. Etigson bought a bungalow for $3,500 in 1945, sold it for $12,000 in 1955. Its current value is estimated between $600,000 and $650,000. He then paid $21,000 to upgrade to a larger Toronto home in 1955, where he lived until 2004 before selling it for $530,000. That home today in its original condition would be valued between $1.1M and $1.2M.
There’s also the tale of a high interest-rate survivor from the early 80’s who struggled with mortgage payments at an incredible 23% interest. Almost unimaginable in today’s low interest rate environment, but a reminder that we’re likely on the other extreme of the interest rate spectrum and that a return to normal, whatever that ends up being, is inevitable.
The Index Card book winner
Last week I reviewed The Index Card, a new personal finance guide written by Helaine Olen and Harold Pollack. The authors were kind enough to send us an extra copy to giveaway to a lucky blog reader. We had 42 entries in the contest and the winner is Julie Lavertu, who commented on January 8th at 9:32pm. Congratulations, Julie!
Speaking of Index Cards, a bunch of personal finance experts shared their own 4×6 financial plans.
This week’s recap:
On Monday I shared four examples of deceptive and misleading advertisements in the financial services industry.
On Wednesday Marie discussed the traits of a successful DIY investor.
And on Friday I argued that good financial habits and good health & fitness habits go hand-in-hand.
J.D. Roth, who created and sold the Get Rich Slowly blog, is back at a new blog called Money Boss and here he talks about what happens after you have enough money – and then some?
Here’s a closer look at the streaming services offered by Netflix, Shomi, and CraveTV.
A smart take on why “sell everything” is not a wise strategy in a market downturn.
The Blunt Bean Counter Mark Goodfield shares some reasons why the 1% (particularly in Ontario) are not happy campers.
Frugal Trader, the blogger behind Million Dollar Journey, lists the provinces that are most attractive to retirees who plan on living off dividend income.
Jason Heath says that when it comes to RRSPs, your strategy should change as you age.
The folks at Young & Thrifty were not impressed with Scotiabank’s new advertising campaign, you know the one where the advisor says, “So I moved some things around, and saved you $1,500 a year.”
No, argues Nelson Smith of Financial Uproar, CPP is not a substitute for bonds.
A good take on active management by The Evidence-Based Investor Robin Powell:
“But to be a successful active investor you need to identify star managers in advance, before they start delivering market-beating returns.“
Michael James on Money shares his investment returns from last year (and going back to 1995).
Another post on lessons learned from a financial downturn, this one by Calgary blogger Dan Wesley.
This Globe and Mail article on estate planning argues that being executor of a will is likely the most stressful experience you’ll ever have.
Here’s how you can keep splitting your income, even after the Liberals axe the Family Tax Cut.
Finally, tax-filers can now file for free this year using TurboTax online.
Have a great weekend, everyone!