Tiny Toronto home sells for $165,000

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  Yahoo! Finance Canada/Google Street View - The tiny home at 30 Hanson Street, which just sold for $165,000.

It's 230-square-feet and has no running water, but this tiny Toronto home just sold for $165,000 in yet another sign home prices in Canada's largest real estate market continue to defy logic.

Described as "cute and cozy" by listing agent Paul Vallis of Real Estate Homeward, the detached home boasts one bedroom, air conditioning and is located at 30 Hanson Street in Toronto's desirable east-end neighbourhood of Greenwood and Coxwell.
The converted garage was on the market for three weeks before selling and was originally listed at $229,000 and later reduced to $195,000 before selling at $165,000, which is nearly 28 per cent below the original price.
The property will function as an investment for the buyer, Vallis told Yahoo Canada Finance, as opposed to a primary residence. And while plans have yet to be divulged, the property will see some 'minor' changes in the short term.
Vallis said he wasn't surprised the home sold as he's seen an influx of interest for smaller properties close to Toronto's downtown core.
"I think it's a great location and it has potential. There is a movement towards smaller houses in the city and I have a lot of interested buyers from builders, to architects to people living out of town and who want a place to stay in the city," he says.
The property was primarily used as a "little get away place" by the former owner, who lived close by, which makes the lack of functional plumbing a bit easier to bear. "It was where he would go to watch movies, read or do some gardening," Vallis said.

Only in Toronto -- and maybe Vancouver -- would a home the size of a tool shed sell for well over six figures.

originally found from: http://ca.finance.yahoo.com/blogs/pay-day-/tiny-toronto-home-sells-165-000-171819404.html

7 reasons to retire in Thailand

Retirement could be financially difficult for many of us. The median retirement account balance of U.S. households near retirement is very low, and many people will be dependent on Social Security benefits. One way to reduce your cost of living is to retire to a lower cost country. U.S. dollars will go much further in Southeast Asia and South America than in the U.S. Thailand is a great example of a country many people contemplate as a retirement spot. Here are seven reasons to consider retirement in Thailand:

A lower cost of living. The cost of living in Thailand is generally more affordable than in the U.S. You can buy a comfortable one-bedroom condo in the central Chiang Mai area for around $50,000 or rent one for about $500 per month. Food, transportation, entertainment and other necessities are all more affordable there. Many expats can live a very comfortable lifestyle on $1,500 per month in Thailand. It's a great alternative to scraping by in the U.S.
Thai food. Thai restaurants are a favorite for many of us. If you like Thai food, retiring in Thailand will be a foodie paradise for you. There are many different dishes that just aren't available in the U.S. You can also take cooking classes for an affordable price to learn how to make those dishes. Exploring Thai cuisine can be a great retirement activity if you have the time. While the food is much spicier in Thailand, you can always ask the restaurants to make your food without chili peppers.
Foreign foods are available. Of course, we all like our comfort foods, too. The good thing about Thailand is the availability of cheese, wine and peanut butter. There is also a huge diversity of restaurants to choose from. Japanese sushi, Indian curry, Korean BBQ, pizza and pubs are there in the bigger cities if you need a taste of home. Foreign restaurants are much more expensive than local places, but it can be a great comfort for expats.
Warmer climate and exotic setting. There are many scenic beaches in Thailand, and the weather is tropical. If you are tired of dealing with snow and ice, then an umbrella drink in Phuket might be a good fit for you. It takes a little time to get used to the humidity, but that's what the AC is for.
Travel headquarters. Thailand is a great starting point for traveling to the rest of Asia. There are many discount flights to the surrounding countries. China, Japan and Vietnam are all fascinating and worth a visit. Living in Thailand for a couple years could give you an opportunity to thoroughly explore these foreign cultures.
Retirement visa. Retirement visas for Thailand are available to foreigners age 50 or older. These retirement visas are good for one year and can be renewed without leaving the country. If you can show proof of income (from a pension or other source) of about $2,100 per month or a bank account with at least $26,000, then you can apply for a retirement visa.
Many foreigners. Thailand had over 22 million foreign visitors in 2012. If you stick to the well-worn paths, you will be able to meet many expats and tourists. Most local people are used to foreigners, and won't stare too much. There are many businesses that cater to foreigners including restaurants and grocery stores.
However, there are some downsides to retirement in Thailand. Medical care can be puzzling in Thailand, and foreigners will probably need international health insurance. The language barrier can also be difficult if you're not open to learning something new. It's a good idea to take an extended visit before moving to be sure you can handle it. But if the culture agrees with you, retiring in a more affordable location like Thailand can significantly reduce your living costs.
Joe Udo blogs at Retire By 40 where he writes about passive income, frugal living, retirement investing and the challenges of early retirement. He recently left his corporate job to be a stay at home dad and blogger and is having the time of his life.

originally found from:http://ca.finance.yahoo.com/news/7-reasons-retire-thailand-194400801.html

Perks of hiring older applicants: experience, dedication, enthusiasm

By Matt Sedensky, The Associated Press

Older people searching for jobs have long fought back stereotypes that they lack the speed, technology skills and dynamism of younger applicants. But as a wave of baby boomers seeks to stay on the job later in life, some employers are finding older workers are precisely what they need.

"There's no experience like experience," said David Mintz, CEO of dairy-free products maker Tofutti, where about one-third of the workers are over 50. "I can't put an ad saying, 'Older people wanted,' but there's no comparison."
Surveys consistently show older people believe they experience age discrimination on the job market, and although unemployment is lower among older workers, long-term unemployment is far higher. As the American population and its labour force reshape, though, with a larger chunk of older workers, some employers are slowly recognizing their skill and experience.
About 200 employers, from Google to AT&T to MetLife, have signed an AARP pledge recognizing the value of experienced workers and vowing to consider applicants 50 and older.
One of them, New York-based KPMG, has found success with a high proportion of older workers, who bring experience that the company says adds credibility. The auditing, tax and advisory firm says older workers also tend to be more dedicated to staying with the company, a plus for clients who like to build a relationship with a consultant they can count on to be around for years.
"Some Gen Ys and Millennials have this notion of, 'I will have five jobs in 10 years,'" said Sig Shirodkar, a human resources consultant with KPMG. "We're looking for ways to tame that beast."
Many employers find older workers help them connect with older clients. At the Vermont Country Store in Rockingham, Vt., the average customer is now in their 60s, and about half of the business' 400 workers are over 50, coming from a range of professional backgrounds, often outside retail. "Having folks internally that are in the same demographic certainly helps to create credibility and to have empathy for our customer," said Chris Vickers, the store's chief executive.
One such employee is 60-year-old Ashley Roland, who got a marketing job at the Vermont Country Store last year after the company she previously worked for shut down. She dreaded the thought of a marathon of unsuccessful interviews, but the store ended up recruiting her.
"When I was being hired, I didn't feel any kind of concern about my age," she said. "I believe in experience. I think you're crazy not to hire someone who's older."
Even when the customers themselves might not be seniors, employers find older adults bring a level of life experience that helps them in their work. About 20 per cent of the roughly 26,000 customer service, sales and technical support agents working for Miramar, Fla.-based Arise Virtual Solutions are 50 or older, and chief executive John Meyer said they often find ways to connect with the caller on the other end of the line.
"Having someone who is more senior, who has had some life scars, makes them much better at interacting with people," Meyer said. "This is a chance for them to use the skills that they have built up over their life."
The embrace of older workers by some companies comes as the country's demographics shift and a greater number of people stay on the job later in life, some because of personal choice, others out of necessity after their retirement savings took a hit during the recession. Between 1977 and 2007, employment of workers 65 and older doubled, a trend that has stayed on track and is projected to continue as the massive baby boom generation moves toward old age. But long-term unemployment has plagued older adults: Nearly half of those 55 and older who find themselves jobless remain out of work for 27 weeks or more.
Many companies still tend to overlook older applicants. Peter Cappelli, a University of Pennsylvania professor who co-authored "Managing the Older Worker," said because the economy has remained relatively weak and demand for jobs has been so high, many employers haven't been pressed to directly recruit older individuals.
Stereotypes have prevailed. Hiring managers often still view older applicants as having lower job performance, higher absenteeism and accident rates, and less ability to solve problems and adapt to changes. But Capelli said research has found older workers outpace younger ones in nearly every metric. And in jobs where age might be a detriment — say, a highly physical job beyond a particular older person's ability — seniors tend to exclude themselves from applying in the first place.
"The evidence is overwhelming that they're better," Cappelli said. "But the hiring managers are just going with their guts, and our guts are full of prejudice."
Paul Lugo, 69, of Kendall Lakes, Fla., has felt that prejudice. After decades of work in business development and customer service at various companies, Lugo found himself unemployed about two years ago. He needs the money, but no one wants to hire him.
"I've been to every mall, I've gone to the TSA, I've gone through thousands of applications," he said, "but I get the same thing: 'Don't call us, we'll call you.'"
Lugo relies on occasional jobs as an extra in movies and television shows to supplement his Social Security check. He has even offered on job interviews to work for free for a week to prove he's worth hiring, but no one has taken him up on it.
"With my experience, I've learned so much," he said. "As a senior citizen, I have a lot to contribute to a company if they allow me, but they never give me a chance."
But older workers are just what Michelle Benjamin, CEO of TalentREADY, a New York-based consulting firm, is looking for. She holds open houses specifically aimed at recruiting them. About three-quarters of the company's senior employees are over 50. They often cost more to hire, Benjamin said, but they don't require much training or supervision, and end up paying for themselves with the quality of work.
"Clients are paying us to get to the bottom line really quickly," she said.
Mintz admits his own age, 82, fuels his support of older workers. But he echoes Capelli, saying he sees daily proof among the older individuals he has hired at Cranford, N.J.-based Tofutti: Fewer absences, fewer mistakes, a greater ability to solve problems and a willingness to put in more hours.
Though workers in highly physical warehouse jobs at his company skew younger, and older employees are not as adept in technology driven roles, Mintz says overall their experience pays off.
"They're loaded with knowledge," he said. "They can teach the young whippersnappers."
___
Matt Sedensky, an AP reporter on leave, is studying aging and workforce issues as part of a one-year fellowship at the AP-NORC Center for Public Affairs Research, which joins NORC's independent research and AP journalism. The fellowship is funded by the Alfred P. Sloan Foundation and supported by APME, an association of AP member newspapers and broadcast stations.
___
Follow Matt Sedensky on Twitter at http://twitter.com/sedensky.
EDITOR'S NOTE _ Aging America is a joint AP-APME project examining the aging of the baby boomers and the impact that this so-called silver tsunami is having on society

.

originally found from: http://ca.finance.yahoo.com/news/employers-see-perks-hiring-older-applicants-cite-experience-144603892.html

Kerry warns Syria: 'Threat of force is real' if chemical weapons deal not honoured

JERUSALEM - U.S. Secretary of State John Kerry on Sunday sent a strong warning to Syria, saying 'the threat of force is real' if it does not carry out an internationally brokered agreement to hand over its chemical weapons.

Kerry issued the warning during a stop in Jerusalem, where he briefed jittery Israeli leaders on the new U.S.-Russian plan to rid neighbouring Syria of its chemical weapons by the middle of next year. In comments aimed at his hosts, Kerry said the deal also served as a "marker" for the international community as it deals with Iran's suspect nuclear program.
"We cannot have hollow words in the conduct of international affairs," Kerry said.
The U.S. has been formulating its response to an alleged chemical attack carried out by Syrian forces that killed hundreds of civilians last month. "These are crimes against humanity and they cannot be tolerated," Kerry warned.
In a deal meant to avert a threatened U.S. military strike, U.S. and Russian officials reached an ambitious agreement over the weekend calling for an inventory of Syria's chemical weapons program within one week. All components of Syria's chemical weapons program are to be removed from the country or destroyed by mid-2014. The Syrian government has yet to issue an official statement on the agreement.
The deal was greeted with cautious optimism in Israel, where leaders expressed satisfaction that Syria, a bitter enemy, could be stripped of dangerous weapons but also pessimism about whether Syrian President Bashar Assad will comply.
Israel has repeatedly voiced concern that Assad, locked in a two-year-old civil war, may fire his chemical weapons at Israel in a bout of desperation or that the weapons could fall into the hands of Hezbollah or other hostile groups fighting in the Syrian civil war.
Perhaps more critically, the Israelis also fear that a tepid international response to Syria could encourage Iran to press forward with what is widely believed to be a nuclear weapons program. Iran denies its nuclear program has a military purpose and says it is pursuing peaceful applications like cancer treatment and power generation.
Standing alongside Kerry, Prime Minister Benjamin Netanyahu welcomed the U.S.-Russia deal and stressed his belief that it would have deep repercussions on Iran, Syria's close ally.
"The world needs to ensure that radical regimes don't have weapons of mass destruction because as we have learned in Syria if rogue regimes have weapons of mass destruction they will use them," Netanyahu said.
"The determination the international community shows regarding Syria will have a direct impact on the Syrian regime's patron Iran. Iran must understand the consequences of its continued defiance of the international community by its pursuit toward nuclear weapons," he added.
He said the deal proved that "if diplomacy has any chance to work, it must be coupled with a credible military threat."
With a nod toward these Israeli concerns, Kerry stressed that the deal with Russia was merely a "framework," and much would depend on Syria.
"The threat of force is real and the Assad regime and all those taking part need to understand that President Obama and the United States are committed to achieve this goal," Kerry said.
He also said the agreement, if successful, "will have set a marker for the standard of behaviour with respect to Iran and with respect North Korea and any rogue state, (or) group that tries to reach for these kind of weapons."
Ahead of Kerry's arrival, some Israeli politicians voiced skepticism, saying Assad cannot be trusted.
Intelligence Minister Yuval Steinitz said the plan was more "substantive" than earlier proposals, but warned the agreement's deadline was not speedy enough and Assad could try to hide weapons.
"We know Assad. All kinds of things could happen," he said, adding that an agreement on chemical weapons should not absolve Assad of punishment for the acts he has committed against the Syrian people.
Avigdor Lieberman, chair of parliament's foreign affairs and defence committee, told Army Radio that Israel would compare its own intelligence assessments of Syria's weapons to the inventory Syria submits, which the plan requires him to do in a week.
"After we see the list of what Assad has handed over in a week, we can know if his intentions are serious of if it is just deception," Lieberman said.
After their news conference, Kerry departed for Paris where he was to discuss the Syria plan with his French, British, Turkish and Saudi counterparts on Monday.


originally found from: http://ca.news.yahoo.com/kerry-warns-syria-threat-force-real-chemical-weapons-141621389.html

Canadian household debt-to-income ratio hits record high

By David Ljunggren

OTTAWA (Reuters) - The ratio of household debt to income in Canada hit a record high in the second quarter, although the pace of growth slowed from the same period in 2012, Statistics Canada said on Friday.
The federal government and the Bank of Canada have expressed concern that Canadians are taking on too much debt - in particular cheap mortgages - at a time when interest rates are at near record lows. Officials fret that when rates go up eventually, some consumers could find themselves in trouble.
The ratio of household debt to income rose to 163.4 percent in the second quarter from 162.1 percent in the first quarter. The rise in the ratio followed two consecutive decreases.
Analysts said it was too early to draw conclusions from the latest data, noting the second quarter is traditionally a busy one for home-buyers. One suggested Canadians could be rushing to buy property as mortgage rates show signs of rising.
In May, Bank of Canada Governor Stephen Poloz said he saw signs of a constructive evolution in household debt. The bank, which has held rates steady since September 2010, said last week it would withdraw stimulus measures at an unspecified time in the future.
"What the Bank of Canada has described as a 'constructive evolution' of household balance sheets still appears to be unfolding, but the modest deterioration in the second quarter and the recent pop in home sales raise some doubts," said Doug Porter, chief economist at Bank of Montreal.
"The lingering question mark on this front is one reason the Bank of Canada has doggedly maintained its mild tightening bias," he said in a note to clients.
The head of Bank of Nova Scotia said last week policymakers should raise interest rates if they fear a bubble is forming in Canada's housing market rather than imposing more regulations on the country's big banks and mortgage lenders.
Canadian authorities have tightened mortgage rules four times since 2008 to cool the housing market, and on Monday, Finance Minister Jim Flaherty said he was comfortable with the way the market had evolved. Flaherty's office did not respond to a request for comment on Friday.
Housing prices climbed to a record high in August, although the annual price increase remained subdued, according to data released on Thursday.
The previous record Canadian household debt to income ratio was 162.8 percent, recorded in the third quarter of 2012.
The ratio in the second quarter increased by 1.3 percentage points from the first quarter, or 0.8 percent. In 2012, the equivalent second quarter increase was 1.5 percentage points, or 1.0 percent.
RBC Economics economist David Onyett-Jeffries said the increase in the second-quarter ratio "largely reflected the seasonal bounce in mortgage borrowing in the spring that is associated with the higher volumes of housing market activity during the peak home sales season".
Jimmy Jean, strategist at Desjardins Capital Markets, said that to some extent the increase in the debt ratio represented "some households rushing home-buying decisions as rates began to move up".
He added in a note: "The idea of a gradual realignment going forward thus remains valid and we do not expect the Bank of Canada to show more concern than in the past."
Mortgage borrowing led the demand for credit in the second quarter, rising by C$18 billion ($17.4 billion) to a total of just over C$1.1 trillion.
National net worth in the second quarter rose 3.1 percent to C$7.31 trillion from the first, as the value of residential real estate helped boost national wealth and net foreign indebtedness declined.

Separately, Statscan said Canada's industries operated at 80.6 percent of capacity in the second quarter, down slightly from the 80.8 percent recorded in the first quarter.

($1=$1.03 Canadian)
(Reporting by David Ljunggren; Editing by Peter Galloway)

originally found from: http://ca.finance.yahoo.com/news/canada-second-quarter-household-debt-income-ratio-hits-123613878--business.html

Persons familiar with situation tell AP LeBron James marries longtime sweetheart in San Diego

SAN DIEGO - The Miami Heat basketball star LeBron James got married in San Diego on Saturday, according to two people familiar with the details of the ceremony.

About 200 guests were present for his wedding to Savannah Brinson, said one of the people, both of whom spoke on condition of anonymity because it was private and the couple had yet to release any details.
James and Brinson, 27, have been together since high school and have two sons. James, 28, proposed just after midnight on Jan. 1, 2012 in Miami Beach, flanked then by many of his teammates — just as he was again Saturday night for his wedding.
Intense security measures surrounded the wedding, and even some of the invited guests were unclear on some specific details in the days leading up to the long-awaited event that came less than three months after James and the Heat won their second straight NBA title.
Guests were ushered into the wedding areas under the cover of tents, and television footage taken by news helicopters showed that even umbrellas were used to protect the identity of those arriving. Heat owner Micky Arison, coach Erik Spoelstra and many of James' teammates including Dwyane Wade and Chris Bosh were on the guest list.
And while some with ties to James, such as Wade and his actress girlfriend Gabrielle Union, tweeted that they were in the San Diego area for a wedding, none released any details Saturday night — since one of the many rules of the wedding was believed to be that no phones would be allowed.
Brinson spoke briefly with AP about the wedding last spring, saying she was both excited and nervous.
James, a four-time NBA Most Valuable Player, and the Heat will open training camp next month. In June, they outlasted the San Antonio Spurs in seven games to capture the championship.
___
AP Sports Writers Tim Reynolds and Tim Sullivan contributed to this report



originally found from: http://ca.news.yahoo.com/persons-familiar-situation-tell-ap-lebron-james-marries-063916790--nba.html

Sweden's King Carl XVI Gustaf celebrates 40 years on the throne with a dance party

STOCKHOLM - King Carl XVI Gustaf of Sweden is celebrating 40 years on the throne by throwing a dance party in the Stockholm Palace courtyard.

The royal palace celebrated the king's 40th anniversary Sunday by holding a service in the palace church, attended by the heads of state from neighbouring Norway, Denmark, Finland and Iceland. On Saturday, there was a dinner and a jubilee concert.
Later Sunday the mayor of Stockholm, Sten Nordin, will toast the king, and there will be a party for the public, featuring dance rhythms such as salsa, waltz, lindy hop and foxtrot.
In a Swedish radio interview, the 67-year-old monarch indicated he will stay on the throne for as long as he remains healthy and said his job is now "more exciting than ever."


originally found from: http://ca.news.yahoo.com/swedens-king-carl-xvi-gustaf-celebrates-40-years-125026973.html