I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

@festusmadidi2634

8 күн бұрын

I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...

@Mathilda-Adele

8 күн бұрын

@@festusmadidi2634 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well

@festusmadidi2634

8 күн бұрын

@@Mathilda-Adele My advisor is Victoria Carmen Santaella;

@festusmadidi2634

8 күн бұрын

You can look her up online

@Adelinde-Isabell

8 күн бұрын

@@festusmadidi2634 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?

In just last couple years I've seen multiple people leave their skilled job to become a relator. Like Canadians working in labs, nurses, plants etc leaving their job and doing this. Of course our productivity will go down.

20 yrs of destruction of our economic productivity. Real estate is a non productive dead end. And everybody ignored this for 20 yrs. I've been ringing the alarm bell for 15 yrs. And another big part of this situation is a massively bloated gov't sector. People hired to push around papers and basically do nothing but collect taxes inefficiently. And the shocking thing is, people still just expect house prices to soar. The real estate sector needs a big correction. IF this doesn't happen we will see 10 yrs of sluggish economic activity.

Makes sense. My parents once had 9 beauty salons. And suddenly in 2014, someone made an offer to buy 5 off of us and my dad agreed. And very quickly he also sold off all but 1. He took the cash and purchased 2 condos and 2 SFHs. Flash forward 10 years and we now own 8 SFHs and 2 condos. I thought my dad was crazy for ditching those profitable salons and choosing real estate. It was the smartest move we ever made.

I am still amazed that it takes so long for leading economists to understand simple concepts! There is only so much money available. If we spend it on non-productive assets i.e. overpriced housing there isn't any left for productive ones

I agree with this video and its excellent charts! IMO Passive income is not productivity. So, stocks and real estate - landlords - are non-productive. The system takes advantage of those who work for their pay. I like how you spelled it out regarding how the system encourages borrowing to purchase/reno houses, causing this mess. Hard to become savers if the interest rate on GICs is only 5% (plus tax - net 3%), vs houses go up 10%?

@reefermadnesss

15 күн бұрын

Stocks are businesses and can be very productive obviously

Good way to shift investment capital in the right direction would be a 40% downpayment requirement for any investment property with the exception of multi unit purpose-built rentals. Designated purpose built units would not be able to evict for personal use. Downpayment can't be borrowed ie. no HELOC capital. IF DP comes from family member (e.g. a parent), family member must be put on title and co-sign mortgage. Source of funds must be established.

@priuss6109

16 күн бұрын

You expect too much from the clown show 😂😂

@Ma3kot33

16 күн бұрын

@@priuss6109hahaha agree..

Households cannot become net savers unless interest rates make savings attractive. Back in 2009 Government followed US Fed and dropped interest rates to zero, triggering huge borrowing and spending tsunami. It was 15 years ago.., but when the worst of economic crisis was over, our Government forgot to withdraw the punch bowl. So, here we are now, thinking how to make households into net savers. First, Government must defeat Inflation, otherwise all peoples savings are going to turn to dust. But with real inflation sitting at above 5% interest rate, there is no way Canadians are going to lock their money into savings accounts

We havent invested in extraction, refinement and manufacturing. The most productive aspects of an economy and we are hostile too it.

If anyone wonders why Canadians don't get paid the same vs American jobs this is exactly the reason why. Having worked in American companies, Canadians output is about 1/4.

What else would you expect when trudeau’s ministers themselves are real estate speculators and so is Singh’s wife.

Would banks be less inclined to lend money for investment properties if rental properties were less profitable, ie if we had a rent control system that capped profits on rental investments? Or are banks relying mainly on the appreciation of the rental property itself when deciding whether to lend?

@reefermadnesss

15 күн бұрын

A large portion of rental properties in BC and Canada are ALREADY cash flow negative. So no...that idea won't help.

@user-hm5zb1qn6g

10 күн бұрын

If you cap rents you're just gonna end up with FEWER rental units and consequently more homelessness. Esp if the Red Cabal insists on allowing in 2M invaders every year.

Agree 100%.

Taxes are too high so people rush to put their money into a primary residence

@Matt-YT

14 күн бұрын

Not the point if the video

Taxes, distance, weather

Complete poison

If recession hit, government requires to loose the housing rules, not restrict . Housing g price for the major market will going up. The secondary cities will slow down and drop because they are going up too much in last 2 years like Calgary and Halifax .

@reefermadnesss

15 күн бұрын

House prices going UP in a recession.....I've heard it all now..😂😂

I think we are little too late to delve into it now. Valuations are high and if we force the investment to productive assets now, housing market can start crumbling down. This should have done way before.🤔

Nice plug to all those who were scared into buying and now are drowning in debt to call and say you will help, lol

You comment that the decrease in nonpermanent residents may decrease the demand for housing. Permanent immigration remains high enough to increase Canada's population to 100 million by 2100 according to the century 100 group of businesses which support this massive immigration. Immigration has been and will continue to drive housing.

@user-hm5zb1qn6g

10 күн бұрын

Yah, it's driving it into the ditch, like health care, classroom sizes, viable employment, cultural h0m0geniety, etc.

FJT

@priuss6109

16 күн бұрын

I agree