Realtors' signs are hung outside a newly sold property in Vancouver.Julie Gordon/Reuters
Hot housing rewards some people and crushes others like Trevor Wilkie, a single father of two who is renting a Surrey, B.C., townhouse that is being sold. He's worried he'll have to pay $600 or more per month to find a comparable place to rent.
Mr. Wilkie's landlord is limited in how much he can raise rents. But if he sells in today's hot market, he can make a significant profit. And so, the house is up for sale. The landlords who continue to rent in markets like Vancouver and Toronto have a lot of power these days because there's so much demand from people who can't afford to buy.
A women profiled in this story has "had potential landlords hang up on her and she's been left waiting for them to show up for viewings. She's been asked for criminal-record checks and credit checks. She's found herself amid standing-room-only crowds with people scrambling to get approved for an empty apartment."
All of this explains why the B.C. government's decision to restrain prices by taxing foreign real estate investors makes sense. The collateral damage from hot housing is starting to add up.
Note: This this is the last newsletter for the next two weeks, as I am going on holiday. It will resume on Wednesday, August 17.
Subscribe to Carrick on Money
Click here to have my newsletter e-mailed to you twice weekly.
The downside of de-cluttering
The de-cluttering trend is based on the idea that it's uplifting to pare down your possessions and focus on essentials. Here's some useful perspective about de-cluttering – you may have regrets about throwing out certain stuff, and your kids won't like it.
U.S. dividend kings
For the dividend enthusiasts out there, and I know there are a lot of you: 18 U.S. companies that have increased dividends for at least 50 years, and 32 companies that are at least 100 years old and have dividend yields in the area of 3 per cent.
Best online brokers
Questrade wins this comparison of online brokers. I'm always curious to read rankings like this as I look ahead to updating my own broker ranking.
Millennials on marriage: I don't
A look at why so many young adults aren't interested in getting married. I heard this lack of interest in marriage raised recently as yet another example of how shiftless millennials are. In fact, it looks like financial constraints are a big part of this.
He's 29 and mortgage-free
This millennial has paid has paid off the detached home he bought in 2013 in Hamilton. Here's how he did it.
Do you have these tech devices in your basement?
Here's an infographic showing how various types of failed technology – game consoles, computers and other stuff that never took off – can be worth hundreds of dollars today.
Today's featured financial tool
What's the best way to attack your debts? This calculator will show you the best strategy for your situation.
Ask Rob
The question: "My general investment strategy is aggressive and I am using low-MER fee index funds that track the Canadian, U.S. and international markets. I also want to be somewhat tax efficient. I am debating between having Canadian ETFs that hold U.S. index ETFs versus buying U.S .ETFs directly. Is there a strong tax advantage of one over the other?"
My reply: Here's a primer for tax-efficient ETF investing that I worked on with some money managers who specialize in building portfolios with ETFs.
Do you have a question for me? Send it my way. Questions and answers are edited for length.
Featured Video
Have some income you never reported to the CRA? Here's how to come clean.
More Carrick and money coverage
For more money stories, follow me on Twitter and join the discussion on my Facebook page. Millennial readers, join our Gen Y Money Facebook group.
Send us an e-mail to let us know what you think of my newsletter.