CategoryPersonal growth

Posted April 22, 2024 Finance

Housing crisis.. Made in Canada

It’s really not that complicated. If you really want to resolve the housing crisis you just need to do these FIVE things

1. Bring back 35 year amortization periods and increase qualifying home prices to $1,250,000 or higher.
2.Remove rent control rules.
3.Halt new immigration until we can build up enough support services to handle what we have already. *(exception below)
4.Cut back on the municipal, provincial gov’t Red Tape to build any type of residential housing and that includes purpose built rental apartment buildings.
5.Create a hiring program to entice and incentivize people to get into skilled trades …and bring over people from outside Canada if you have to (this would be my exception to point 2 above)
Do this and you’ll soon have more housing units available than you could even dream of. It could be done in 3 to 5 years. It’s just not that complicated.

Rental properties as a secure long-term investment

Posted February 1, 2024 Finance

Population Crisis Part 2: The Good News

Hopefully you read Part One of this article where I discuss the Canadian government’s delusional (and incredibly damaging) immigration strategy. With no meaningful plan to absorb 500,000 newcomers per year, we’re looking down the barrel of a number of crises to come: a jobs crisis, a healthcare crisis, an infrastructure crisis, and of course, a housing crisis.

Posted July 14, 20221 Comment Bank News

The Right Time To Buy Is Right Now

Yesterday, the Bank of Canada raised their rate by a whopping 1%. It’s the biggest rate hike in a long time, and it’s got a lot of people talking. Mostly negatively (surprise surprise) but I for one have no interest in talking about what you can’t control. Instead, I want to talk about what you can control. There’s a way you can capitalize on a rare opportunity to grow your net worth over time, and it runs contrary to everything you’re hearing on the news:

Buy real estate.

Posted June 28, 2022 Bank News

Death, Taxes, and Interest Payments: Part 2

There are some things in life you can’t avoid, but only two things you can’t avoid paying for: taxes and interest payments. In Part 1 of this series, we looked at owning a rental property as a great way to build your net worth while reducing your taxes. Now, in Part 2, we’ll be turning to interest payments.

Interest payments are a pain to deal with but a necessary evil nonetheless. Here are a few ways to make them a little less painful.

Posted June 21, 20221 Comment Consumer Debt

Death, Taxes, and Interest Payments: Part 1

“Nothing in this world is certain except death and taxes.”

Benjamin Franklin said this in 1789, and it’s just as true now as it was then. There’s just one thing I’d add given that the world has changed quite a bit since the 18th century: interest payments. Maybe not as certain, but just as stressful. If I could revise the quote now, I’d make it:

“Paying interest and taxes will be the death of us.”