Home Economics: Handling mixed-income friendships; How to save on your remodel

BNN Bloomberg

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Understanding mixed-income friendships

As the economy slowly starts to reopen, you're likely seeing more of your friends. With that comes dinner plans or even wedding invites. For every plan you have there is a cheque to pay and you may realize that you and your friends handle these kinds of expenses differently. Whether you’re the one with less money or more money, here’s how you can re-enter the world and keep both your friends and finances intact.

Housing sales across Canada drop in July

The boom in housing markets across Canada is rapidly slowing. In the Greater Toronto Area there were 9,390 property sales in July, according to the Toronto Regional Real Estate Board. That represents a 40 per cent plunge from the record 15,652 sales in March. Montreal home sales and new listings also dropped 30 per cent each, according to the Quebec Professional Association of Real Estate Brokers and Vancouver sales were down 11.6 per cent from June levels, according to The Real Estate Board of Greater Vancouver.

Cutting remodeling costs when lumber prices are high

Lumber mills made the “fatal mistake” of predicting the housing market would crash because of COVID when it has instead boomed, Senior Economist with the National Association of Home Builders David Logan said. With the surge in home demand, the cost of wood has soared over the last year. Those looking to renovate their homes are now forced to wait for prices to drop or cough up extra and risk overpaying. Here are some tips to rethink your home remodel when lumber costs are through the roof.

Mutual fund investors left holding losing hand

Investment Industry Regulatory Organization of Canada (IIROC) and the Mutual Fund Dealers Association of Canada (MFDA), the two groups that oversee investment dealers and mutual fund dealers, are merging responsibilities into a single entity. IROC President and Chief Executive Officer Andrew Kriegler said the change will “better protect investors, increase access to advice, and support innovation.” However, Personal Finance Columnist Dale Jackson explains why this might not be great news to mutual fund holders.

6 steps to hiring your first employee

During the pandemic, many took matters into their own hands when losing a job and started their own companies. Now, the IRS received more than seven million requests for new employer identification numbers between January 2020 and June 2021, according to data from the U.S. Census Bureau. One of the first steps to growing a business is hiring staff to run it. Here are six things business owners should do first.