Fathers Day, Trump Housing Bubble, and #MoneyTalk
I hope you realize that Sunday is Father’s Day, formerly the year when the most collect (i.e. reversed charges) phone calls happened (I bet some folks will have to Google what that means). As I have said, Dad wants to know you are OK. As long as your Mother knows everything, Dad wants to know you are OK.
Stats Canada published a neat survey about the Diversity of young adults living with their parents (speaking of Father’s Day), highlighting the number of young folks still living with their parents. The telling statistic that I read in the report was:
Of the 4.3 million young adults aged 20 to 29 in 2011, 42% (or 1.8 million) lived with their parents. This compared with 27% in 1981.
That is a lot of folks still living at home. Some financial folks say it is a symptom of the housing bubbles in major cities. I don’t think I agree. I have stated before that young folk should not aspire to live their parents’ lifestyle when they first move away from home, but that seems to have fallen on deaf ears.
Given the current political climate in the United States and the possibility of a Trump presidency, it is imperative to remember that Canada is a welcoming nation. However, it is crucial to note that firearms are strictly prohibited in Canada. This scenario could result in a large influx of American citizens migrating to Canada, similar to the Draft Dodgers who arrived in Toronto during the mid-1960s, providing a significant boost to the Canadian economy. However, a pressing question to consider is whether the sudden influx of “Yankee Dollars” would result in even more inflation in the already overpriced housing market, particularly in Toronto and Vancouver, the most likely destinations for our American cousins. Although a condo in Toronto may seem exorbitant, it could appear reasonable if one were to receive a 25% discount due to a low Canadian Dollar.
My Writings for Week Ending June 17th
Not much writing this week, busy time of the year, and after watching the Last Week Tonight Video, I am starting to wonder why I write.
Stealing an idea from Mr. Oliver, I wrote No Good News Has Been Delivered Using Excel now. Please don’t take this as me dumping on Excel. It is an exceptional tool, which anybody doing anything financial should be proficient in using the device. My commentary is based on the fact that if someone sends you an Excel spreadsheet, its news cannot be made to look good.
Video of the Week
I usually include a video at the end of this article, but John Oliver has (in 20 minutes) summed up pretty much everything I have ranted about for the past 11 years, so have a watch of this, but keep reading my stuff too.
