Residency Rules Snowbirds Need to Know Avoiding Canadian winters by heading to the warmer climate of the southern United States has long been a common goal for Canadian retirees. These snowbirds look to enjoy the warm weather while maintaining their Canadian ties. For many it’s a great way to spend a part of their retirement, as long as they are aware of the potential tax consequences. Many of them are just like the parents of my friends, a healthy sun-seeking couple named Mary and James. They’re well-to-do and readily able to afford a few months in Florida’s warmth, and they think they have all the knowledge they need to avoid any tax or financial pitfalls that may be caused by their extended time in the U.S. At a gathering recently, James confidently…
Found 3 blog entries for February 2013.
Sales remain slow with only 284 total sales on MLS this January, 27% fewer sold compared to 372 sales January of 2012 while inventory of homes for sale is up marginally to 3,870 compared to 3,715 this time last year. That translates to more than a 13 month supply = Buyer’s Market. In 2012 only about 1 in 3 who listed their homes for sale succeeded in selling. From my viewpoint prices have declined substantially in some cases, more dramatically with high end, rural and properties with significant negative influences. Furthermore, in my personal crystal ball I think the market is beginning to stabilize, many who would like to sell are now frozen with high mortgage balances relative to their property values preventing a flood of new listings at adjusted…
U.S. housing starts moderate in January after the previous month’s surge; producer prices inched higher in January
- Housing starts declined by 8.5% to an annualized pace of 890,000 units in January 2013 and missed market expectations for a modest drop to 920,000 units.
- Building permits increased by 1.8% in January to an annualized 925,000, slightly stronger than market expectations for a reading of 920,000, and represented the highest level since June 2008.
- Some moderation in homebuilding was expected to kickoff 2013 after the sharp acceleration at the end of 2012, with the upward revisions to the previous month bringing the quarterly increase in starts to an annualized 84% in the fourth quarter of 2012. We anticipate that the pullback in