This week, we say goodbye (for now) to personal finance columnist Rob Carrick, who leaves us with some final real estate advice. Plus, one property worth a look.

A new report from credit agency TransUnion found 29- and 30-year-olds had the worst mortgage delinquency rates at 1 per cent and 1.1 per cent, respectively - nearly 10 times the average national rate. As Salmaan Farooqui writes, it’s more evidence that the current period of renewals, a result of a pandemic-era rush to buy housing five years ago amid lower interest rates, is taking a toll on Canadian homeowners. Some credit professionals say that young Canadians are missing mortgage payments more often because they don’t have the savings built up to protect them from the unexpected costs of home ownership.

“When I spoke to Calgary-based mortgage broker Joe Jacobs, he said one problematic thing that drives people into home ownership is a fear of missing out,” Farooqui told me. “And when you’re rushing into the market for that reason, you can forget to consider some important factors and end up buying a home before you’re ready.”

Farooqui said experts told him that young prospective homebuyers should ask themselves a few vital questions before making a move, including: How many mortgage payments could you make if you lost your job? Do you have an emergency fund? Purchasing a cheaper or smaller house could be another way to create room in your budget to account for unexpected expenses.

Back in August of last year, a condominium corporation in Waterloo, Ont., was fined $15,000 in penalties after losing a case against a couple living in one of its buildings. The corporation sought to enforce a one-dog-only rule for residents against the couple, who each have service animals. And nearly 10 months after the ruling, a three-justice panel in Ontario’s Superior Court of Justice’s divisional court dismissed all three legal issues raised in an appeal brought by the condo corporation’s lawyers. As Shane Dingman writes, the decision provided a clear warning to condominium managers and governors: Be careful how you deal with disputes around service animals, otherwise it could cost you.

If New York or Los Angeles found over 500 acres of land to develop into homes, businesses, schools and parks, it would make headlines the world over. But a new massive project in Toronto seems to be flying under the radar. As Dave LeBlanc writes, 10 new eco-friendly neighbourhoods are planned at Downsview Airport, comprised of an anticipated 65,000 residential units – with some being entirely car-free. LeBlanc toured the land with one of the developers.

“In the 22 years I’ve been at the Globe, I’ve learned that Canadian architects, planners and developers display quite a bit of humility,” LeBlanc told me. “That’s still true today – we have mega projects like Villiers Island and the naturalizing of the mouth of the Don, and huge swaths of land being developed, like on the waterfront or at the old Downsview Airport, but we keep these achievements under our collective hat. Why? Because we just want to get the job done, we don’t want to brag.”

Rates shown are the lowest available for each term/type and category (insured versus uninsured) as of market close on Thursday, June 26.

For almost three decades, The Globe and Mail’s personal finance columnist Rob Carrick has been writing about everything you need to know about managing your money in Canada – from investments to real estate, mortgages, taxes, retirement and much more. And after 29 years at The Globe, Carrick is retiring at the end of this month. But don’t fret, he’ll continue to write for The Globe in different capacities. In his latest column, he shares eight lessons learned while on his beat. Readers also had a chance to ask Carrick some questions directly in a Q+A earlier this week. Here’s a highlight from the conversation:

In the current economy, is renting or buying a more economical or financially advantageous strategy?

Carrick: This is a tough one. Rents have soared in recent years, though they are coming off their highs in some cities by a bit, and mortgage rates are still a handful. I don’t see lower fixed mortgage rates coming up, though variable rates could come down. Generally, renters have more financial flexibility. They pay only rent, not property taxes, insurance and maintenance. Also, you can negotiate lower rents if the economy tanks, and you can easily move if you need to for better job prospects. Owning gives you the satisfaction of having your own space, and you build equity, of course. But home ownership will dominate your finances.