AGENT LICENSE ID
M21003885
BROKERAGE LICENSE ID
10349
Susan Burke
Mortgage Agent - Level 2
Office:
Phone:
Email:
Address:
7676Woodbine Ave Suite 100, Markham, Ontario
These are CHALLENGING TIMES! Let me help answer your QUESTIONS!
I’m a VERICO - NORTHWOOD MORTAGE AGENT. I know mortgage financing can be intimidating, but it doesn't have to be. I can arrange mortgage financing for a purchase, transfer, refinancing or debt consolidation. I have access to over 63 lenders and can offer competitive mortgage rates across Canada. When you work with me you have CHOICES.
My commitment to you is to listen to your needs, assess your financial situation and outline the best plan for you. I will be here for you today and in the future to help with your mortgage needs.
The answers to your questions are just a phone call away.
Sue
BLOG / NEWS Updates
CMHC: What is Canada’s potential capacity for housing construction?
Key Highlights
Even with a record-high 650,000 construction workers in 2023, Canadas housing production of 240,267 units was below the potential of over 400,000 homes per year.
While more human and financial resources have been committed to residential construction over the past several years, housing starts have not kept the pace.
Meeting the Governments Housing Plan of achieving the goal of 3.87 million new homes by 2031 demands both regulatory reforms and industry consolidation to increase efficiency and productivity. The Housing Accelerator Fund is a huge step in achieving this outcome.
https://www.cmhc-schl.gc.ca/blog/2024/what-canada-potential-capacity-housing-construction
SCOTIABANK: SPEND LIKE THERE IS NO TOMORROW, TAX LIKE THERE IS
Canadas federal Finance Minister tabled Budget 2024 on April 16th. Gross new spending measures were substantially higher than signalled ahead of budget day, with equally substantial taxation measures partially offsetting the net impact.
The budget adds a near-term boost to growth with major new spending, but it introduces another twist as it gives with one hand while taking with the other. While net new spending amounts to 0.4% f GDP over the next two years, gross outlays to Canadians adds up to a much more substantial $22.5 bn (0.7%), while syphoning off $9.5 bn from drivers of growth. This is additive to the $44 bn incremental spending provinces have announced in recent weeks.
The budget clearly makes the Bank of Canadas job more difficult. The soft inflation print released into the budget risks fanning complacency around the risk of a resurgence in inflationary pressure particularly with a housing market rebound waiting in the wings (and more potential buyers on the margin after this budget).
New spending is hardly focused. A gross $56.8 bn is spread widely across a range of priorities. The new Housing Plan reflects just 1/6th of new outlays. Others were channeled aheadmilitary spending, AI investments, and pharmacarewhile new pledges were tabled towards Aboriginal investments, community spending, and a new disability benefit among others.
New tax measures will yield a $21.9 bn offsetnotably a big increase to the capital gains inclusion rate from one-half to two-thirds for individuals and corporations later this Spring.
The net cost of new measures in this budget lands at $34.8 bn over the planning horizon. Near-term economic momentum has provided additional offsets ($29.1 bn), leaving the fiscal path broadly similar to the Fall Update. The FY24 deficit comes in on the mark at $40 bn (1.4% of GDP) and is expected to descend softly to $20 bn (0.6%) by FY29. Debt remains largely on a similar path of modest declines as a share of GDP over the horizon.
The fiscal plan could have delivered on critical priorities including the Housing Plan, along with AI and Indigenous spending, while still adhering to its fiscal anchors without resorting to substantial new taxation measures that will dampen confidence and introduce further distortions to Canadas competitive landscape.
It wont likely trigger an election, but it is clearly a warm-up lap as Canadians brace for the polls within the next 1218 months. The taps are unlikely to be turned off any time soon.
Source: https://www.scotiabank.com/ca/en/about/economics/economics-publications/post.other-publications.fiscal-policy.fiscal-pulse.federal.federal-budget-analysis-.canadian-federal--2024-25-budget--april-16--2024-.html
Financial Literacy - FREE "Budgeting 101"
https://nomoredebts.org/canada-credit-counselling
https://nomoredebts.org/budgeting/build-budget
https://nomoredebts.org/budgeting/budgeting-tips/