'Amazing' Mackinac Race Underway.

From Neil Bowen, Sarnia Observer.

Pancakes and boats drew a crowd to the Blue Water Bridge Saturday.

“Pancakes call to us,” said Bob Cook, a race spectator who also enjoyed the Rotary Club of Sarnia breakfast under the bridge.

The breakfast went well and even with a light shower people were lining up to gobble up the club's offerings.

Behind a row of grills bags of pancake mix were prepared with the help of an electric-drill mixer.

Cook came to the bridge with Lorraine Buchner who was enjoying seeing the race start for the first time.

“It's amazing,” said Buchner.

Link to the rest here.

Image Credit. By Jerry Ritcey - Own work, CC BY-SA 3.0

Thank you for reading.

Should Canadians Worry About a Housing Bubble?

From the CBC.

Canada's housing market may be finally showing signs of cooling.

According to Canadian Real Estate Association statistics, average national home prices have fallen 10 percent since the heights of April this year.

Change is attributed in part to the Bank of Canada raising interest rates for the first time in years, as well as provincial legislation in Ontario and B.C. aimed at slowing skyrocketing prices in Toronto and Vancouver.

But is this dip in price a blip, a soft landing, or the bursting of a bubble?

***

"Over the last five years the private sector debt in Canada has grown 20 percent, and it's the leading pace of increasing credit in developed countries."

Edmonton-based housing analyst Hilliard MacBeth believes a housing price correction is due in Canada. (CBC)

"Once [housing] prices start to correct, as they have in Toronto, these issues with debt become much more important."

MacBeth warns this pricing dip may be the calm before the storm. He sees a comparison between some Canadian markets and the United States before their 2008 housing collapse.

Link to the rest here.

Thank you for reading.

Six Renos That Add Nothing to Resale Value.

From the Globe and Mail.

Every homeowner must pay for routine home maintenance, such as replacing worn-out plumbing components or staining the deck, but some choose to make improvements with the intention of increasing the home's value. Certain projects, such as adding a well thought-out family room - or other functional space - can be a wise investment, as they do add to the value of the home. Other projects, however, allow little opportunity to recover the costs when it's time to sell.

Even though the current homeowner may greatly appreciate the improvement, a buyer could be unimpressed and unwilling to factor the upgrade into the purchase price. Homeowners, therefore, need to be careful with how they choose to spend their money if they are expecting the investment to pay off. Here are six things you think add value to your home, but really don't.

Link to the rest here.

Thank you for reading.