Canadians are Struggling: The Major Challenges we're Facing Right Now!

The biggest challenges facing Canadians today is the housing market. We delves into the complexities of the job market, emphasizing the importance of networking and internal referrals in securing jobs, especially in saturated fields like software engineering. Nathan shares valuable insights on effective budgeting, the pitfalls of credit card misuse, and the critical importance of understanding your credit score. He compares the benefits of trade schools and community colleges with traditional university paths, providing a fresh perspective on educational choices. The conversation touches on government fiscal policies, student loan repayment tools, and strategies for managing personal debt. Nathan explores housing strategies, including the First Home Savings Account (FHSA), and offers practical advice on saving for a home while managing expectations. This episode is packed with actionable insights on financial literacy, job market realities, educational choices, and housing strategies, making it a must-listen for young adults navigating their financial future.
At OwlMortgage.ca, we’re reframing mortgages. Gone are the days of daunting contracts that laden you with debt. Our educational and empathetic approach considers your needs and wants from your home to make it work for you. We offer a helping hand regardless of your learning style or where you are in your home-buying journey. Whether you're self-employed, salaried, or retired, and looking for a first home, renewing, refinancing or consolidating your debt, the team is here to help.
For all your Mortgage and Financing Needs: Contact Me Today!
📩 vince@owlmortgage.ca | (416) 613-5363
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#mortgage #mortgagebroker #realestate #housingmarket #canada #interestrates #politics #toronto #ontario #canadianeconomy

Пікірлер: 68

  • @wiseoldowlshow
    @wiseoldowlshowАй бұрын

    What do you think the biggest problem in Canada is right now? Hope you enjoyed, leave your comments, questions and concerns below!

  • @Mark-tw5ws

    @Mark-tw5ws

    Ай бұрын

    Trudeau

  • @KeSheanP

    @KeSheanP

    Ай бұрын

    Housing affordably

  • @alanj9978

    @alanj9978

    Ай бұрын

    JT

  • @samben8915

    @samben8915

    Ай бұрын

    Housing Affordability in big cities like Toronto

  • @mikesmith-nj1ij

    @mikesmith-nj1ij

    Ай бұрын

    Weak political leadership at ALL levels. I'm starting to think it's by design and not organic. If I'm optimistic, I think.... Weak men create hard times. Hard times Create strong men Strong men create good times Good Times create weak men. When I'm pessimistic, I think it's not all happening by chance.

  • @0Goldeneye0
    @0Goldeneye0Ай бұрын

    I'm 32 now and my guidance councillor in HS tried to steer me into Uni when I wanted to go to college. I work in IT now and I'm not happy with it but sort of have the golden handcuffs right now, not thrilled with the idea of starting all over. But I wish I took a trade instead of getting steered into a white collar job because "tech jobs are the future". Now I'm in an oversaturated field , underpaid because theres so many of us so someone else will do it cheaper, and not engaged with my work. I think had I taken a trade then I'd likely be over six figures by now and working towards my financial goals instead of hoping that this year is the year I get a raise.

  • @marcuspine9436
    @marcuspine9436Ай бұрын

    You have zero idea of trades I hate to say. Usually these higher number jobs at $50-60/hr include they're health package, pension, ect. The actual value it equates to is more along the lines of $36.50 depending on location & trade job.

  • @pilotgirl5953
    @pilotgirl5953Ай бұрын

    Skilled trades are where it’s at. I’m an electrician and the apprenticeship is 4 years. Great pay and you can work on your own if you wish. I did the advanced stream in high school and still went the trades route as my dad told me get a degree in something you can get a real job in or get a trade. So glad I listened to my dad.

  • @xxrudebouyxx1363

    @xxrudebouyxx1363

    Ай бұрын

    Trades is a great choice but way too many electricians out there. Apprenticeship now requires a one year free internship just to begin. Plumbing and other trades are in demand and pay way more

  • @0x0x00

    @0x0x00

    Ай бұрын

    Hoping AI robots won't compete in skill trades.

  • @pilotgirl5953

    @pilotgirl5953

    Ай бұрын

    @@xxrudebouyxx1363 I'd probably recommend being a plumber !!!

  • @pilotgirl5953

    @pilotgirl5953

    Ай бұрын

    @@0x0x00 Probably not anytime soon, but who knows

  • @mikesmith-nj1ij

    @mikesmith-nj1ij

    Ай бұрын

    I'm assuming when you say your dad said get a degree in something.... You're taking that to mean get a certification. Splitting hairs but obviously a journeyman ticket is not a degree. But I applaud your choice. Now find like-minded and motivated trades in other areas and learn how to flip houses or fix up derelict properties and keep them as rentals. It's not always easy but it will be your pension plan if you can make it through the first 5 years. It also helps if you can find a landlord friendly province... Unfortunately based on what I see... Alberta is one of the only ones. You can mitigate this somewhat by paying a little more and getting a better property and a better area.... Your tenants will self-select. There are no guarantees in life, but you are certainly tilting the odds in your favor going about it this way.

  • @raze5346
    @raze5346Ай бұрын

    Im glad he said it... we can not focus on or wait for the government to save us we need to make decisions and do it ourselves its the way its always has been and will be.

  • @rachelk8368
    @rachelk8368Ай бұрын

    MOVE TO THE STATES. BUY GOLD Best moves

  • @raze5346

    @raze5346

    Ай бұрын

    buy gold... lol... yeaaa no

  • @mikesmith-nj1ij
    @mikesmith-nj1ijАй бұрын

    Former teacher of multiple decades here. When I started we were tasked with creating critical thinkers for the 21st century. No education is more about teaching kids. What to think.... We've moved to the other end of the spectrum. My dad always told me.... get a university degree and you'll be set for life. That can still be true, but one has to be so much more selective.... And a technical college or getting a job is certainly a better option for some kids.... And it's not always about intellect. As you use succinctly put early in this video speaking in the context of careers.... Develop your talents, not your passions. Great Video. Kids need to be given options and then left to decide, With some guidance or pros and cons. They Don't need to be funneled in A given direction... And that goes for a career.... worldview.... values etc.

  • @CanadianSon
    @CanadianSonАй бұрын

    37:21 where there’s a will there a way is definitely true for young people getting into the market…however not everyone can be the top 1-5% that can get in at these high prices. An adjustment has to be made in the market or the side affects of so few new buyers entering the market will have its own consequences

  • @taimurahmed92

    @taimurahmed92

    Ай бұрын

    The existing players will keep on multiplying their properties and young people will have a harder and harder time getting in.

  • @robb2959
    @robb295922 күн бұрын

    After 2 years in trade college you make 20 to 25 bucks an hour which is good and if you are lucky shoveling etc . Higher wages are for experienced trades with minimum 4 years Experienced accomplished trades whi are actually good which takes 10 years minimum make 40/ hour and up . Self employed can make 100/hour but their can a lot of overhead and stress .

  • @TheNewSchoolGamer
    @TheNewSchoolGamerАй бұрын

    You're right, it really depends on your long term outlook. When I was 24 back in 2015 I did what none of my friends were doing an bought my first condo to live in. Sure, I didn't party as much or do any international travel for a couple years but I can say that if I didn't make the sacrifices and get into the housing market back then, there's no way I could have recently bought a detached house on a single income. Qualifying for financing these days is rough, I put down 50% and I was still having a tough time even with a solid mortgage broker

  • @eddobond76
    @eddobond76Ай бұрын

    Our federal government officials need wear the safety glasses while they are wearing hard hats😊!

  • @CaptanKlutch
    @CaptanKlutchАй бұрын

    Not gonna lie youre very wrong about the trades i got into the trades at 17. And have been struggling ever since i started making minum wage for 4 years now after 8 im up to 32.50 and still struggle to actually pay my rent live a decent life and save any sory of money. I found the cheapest apartment in northvancouver and pay about 2000$ a month and make about 4000$ a month after tax

  • @user-kv4kp4co1r
    @user-kv4kp4co1rАй бұрын

    During COVID, I paid my rents and my landlord got mortgage payment deferrals. After COVID, I paid my rents and my landlord got 100 years of amortization. From 2020 to 2024 I got a zero dollar increase in my salary and my landlord's house doubled in price. Now for renewal F. Minister told landlords to see the mortgage charter that means 100 years amortization again. In the meanwhile rents, groceries, gas, insurance all are up, up and up.

  • @roadmap999

    @roadmap999

    Ай бұрын

    Moral of the story? Own shit.

  • @SamueleLangeli

    @SamueleLangeli

    Ай бұрын

    Buy your own place and quit crying .

  • @user-kv4kp4co1r

    @user-kv4kp4co1r

    Ай бұрын

    Sure, lend me your HELOC money. ​@@SamueleLangeli

  • @user-kv4kp4co1r

    @user-kv4kp4co1r

    Ай бұрын

    ​@@SamueleLangelihow about you lend me your HELOC money to pay my down payment.

  • @donm2067

    @donm2067

    Ай бұрын

    The problem with housing is everyone who owns is an elitist.

  • @jodiekohut9443
    @jodiekohut9443Ай бұрын

    I use an excel sheet to budget

  • @0x0x00

    @0x0x00

    Ай бұрын

    I use my brain to stop spending😅

  • @rolandvencel4256
    @rolandvencel4256Ай бұрын

    Let's not forget that employers are also well aware, they need to sell value... take on Job A, and you will be considered for Job A.2/A.3/A.4 etc... and there is lots of "fabrication of future roles" being sold... just to hire someone who is over qualified for an under paid role. Yes, who you know is key... but is that person actually going to pull the strings for you... when a company already has an internal hierarchy in place... and others are waiting for their strings to be pulled. We are in a "Hunger Games" like Job market... unless you get legal documents signed (have things clearly written out)... a word and handshake is meaningless.

  • @donm2067
    @donm2067Ай бұрын

    Everyone here bashing the trades is hilarious, I know you're not maintaining your house or car.

  • @antoniofuentes2657
    @antoniofuentes2657Ай бұрын

    Most trades are a 4 year apprenticeship, and you Don’t make 50-70 dollars an hour either.

  • @lazerhawk2192

    @lazerhawk2192

    Ай бұрын

    Statscan says 30 an hour for a median plumber, 50 is high in Ontario.

  • @roadmap999

    @roadmap999

    Ай бұрын

    4 years of grinding your ass off...the payoff is real. 4 years is less than 1500 days It's nothing.

  • @debbielockhart7762

    @debbielockhart7762

    Ай бұрын

    ​@lazerhawk2192 No way is a plumber earning $30. Maybe someone who isn't qualified yet.

  • @lazerhawk2192

    @lazerhawk2192

    Ай бұрын

    @debbielockhart7762 I'm using official government data. The trades you're thinking of have a small business. Typically, those ones keep money in a corporation.

  • @jodiekohut9443
    @jodiekohut9443Ай бұрын

    Young people spend their money on their image, cars, clothes, make up, vacation.😊

  • @0x0x00

    @0x0x00

    Ай бұрын

    I was there😂

  • @philippickles693
    @philippickles693Ай бұрын

    Where I work, we have had a heck of a time hiring for a job that pays almost 6 figures and requires a high school diploma.. the young generation doesn't seem to want to get dirty..

  • @carolinacantin9291

    @carolinacantin9291

    Ай бұрын

    What kind of job is it?

  • @philippickles693

    @philippickles693

    Ай бұрын

    At a steel mill.. shift work with the potential to make $125,000 with overtime. My managers spent the last 4 years doing dozens of interviews with only a few hired​@@carolinacantin9291

  • @HermajestyMate

    @HermajestyMate

    Ай бұрын

    What kind of job? And company?

  • @philippickles693

    @philippickles693

    Ай бұрын

    I'm at Stelco in Hamilton but Dofasco has also had challenges hiring.

  • @donm2067

    @donm2067

    Ай бұрын

    The reason nobody wants in, is because nobody wants to get rug pulled.

  • @MontrealKid628
    @MontrealKid628Ай бұрын

    unproductively busy: hilarious. but you might have something there.

  • @donm2067

    @donm2067

    Ай бұрын

    Gordon Ramsay coined the term "busy idiot", I've used it for over 10 years now

  • @skypablo
    @skypabloАй бұрын

    Talking like it's easy to get in the damn union 4man or site manager don't even want to write a letter for you to get in even tho you work enough to pay to go in, I've tried plenty of times sometimes they let me go without no warning this place is a joke and they all for them selves that's why this place going down in a hole