Millennials should wait 10 years to buy a home.Getty Images/iStockphoto
The best of the web on money, markets and all things financial, as chosen daily by Globe and Mail personal finance columnist Rob Carrick.
Millennials should wait 10 years to buy a home
A U.S. study suggests that stretching for that first home when you have no other savings and little ability to save going forward is a huge mistake.
There's a flaw in this plan if you live in Vancouver – rents are expected to soar.
In the U.S. market, rents are rising faster than incomes in some cities.
When you start house hunting, here are some of the coolest neighbourhoods in the country.
A reverse mortgage is not for you
This blog post is a subtle sales pitch for reverse mortgages, a financial product that has its uses as a way to find money in retirement, but also some pitfalls. The post describes how a guy working for HomeEquity Bank, a provider of reverse mortgages, urged a woman not use proceeds from a reverse mortgage to help her son with his struggling restaurant business.
In this video, I talk to an expert on retirement who lays out a case where reverse mortgages do make sense.
Here's a column I wrote a few years ago on reverse mortgages
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Rob Carrick