More condo investors taking a short-term hit for long-term gains

New data from CIBC and Urbanation found that about 40 per cent of condo investors had a negative cashflow on their unit. CIBC’s deputy chief economist Benjamin Tal joined Bloomberg Markets to explain that condo investors are pouncing on low interest rates and enjoy long-term gains in property value. The condo segment, which had been battered during the onset of the pandemic in 2020, is increasingly becoming a more affordable option for real estate investors looking to jump into the market.

Most Canadians yet to file taxes this year as deadline looms 

The April 30 income tax deadline is fast approaching, though at least 60 per cent of Canadians have yet to file ‘as of late March’, according to data from H&R Block Canada. Last year has been a particularly challenging one for Canadians to navigate with income supports, leaving nearly half of those surveyed concerned they will owe. Work-from-home expenses add another headache to the mix, but could add to the refund that 26 per cent of respondents are counting on.

Want to fix housing affordability? Break the ‘market psychology’

BMO Economics weighed in on the housing conversation with a few recommendations of its own, starting with policy that would target the market psychology that sent house prices soaring. Robert Kavcic, senior economist at BMO Capital Markets, joined BNN Bloomberg this week, explaining that optimistic expectations for home prices were anchored to record-low interest rates. Measures like raising rates and imposing speculation taxes could impact existing market sentiment that nothing will challenge the hot housing market.

Why you shouldn't shrug off the importance of a prenup

A lot of people shy away from signing a prenup at the beginning of their relationship because they struggle to imagine how things can go wrong. CTV's Chief Financial Commentator Pattie Lovett-Reid explains why this step before walking down the aisle is necessary in case something does go wrong. She lays out the pros and cons of a prenup or co-habitation agreement and who should really be seeking one.

Personal finance confidence pushing Canadians to splurge on self-care

Whether it is baking, exercising or online shopping, everyone has their guilty pleasures they indulge in for a little pick-me-up. According to a recent poll by the Bank of Nova Scotia, 79 per cent of Canadians have focused on at least one self-care activity since the pandemic started. D'Arcy McDonald, senior vice president of deposits, investments and payments at Scotiabank, said since Canadians have been stuck at home they were able to increase their savings making them feel comfortable to spend a little extra than usual on their favourite self-care activities.