How are the people in your world doing financially?

Open borders means higher demand for housing which means ever higher housing costs, which results in a lowering of our standard of living.

originally posted by: igloo
Not good if they were struggling before.

Our cities in canada are filling up with homeless camps and there are homeless camps out in the bush near our village as well as many elderly people living in cars and vans.

I totally think we are going to see a generation of car/van living people.

Personally, we got a chance to continue our recovery, but we will never get back to where we were. Too many accounts closed permanently as well as quite a few of the supplier companies. It seems the higher-end accounts are fine but the mid to lower-tier retailers are still hurting.

We can't afford any setbacks now and will really need a good 8-9 months so we can breathe easier

Locally we are seeing closed locations being reopened with newer tenants, but honestly, that could be deceiving we live adjacent to a super wealthy area on the other side it's fairly well to do.

We could be seeing a squeeze, I know our rent went up and I thought it was high to begin with.

a reply to: JAGStorm

We are going the multi-generational route. I want to help my kids get a leg up in the real estate market, so we will soon be co-owning a multi-family residence, and sharing all bills equally. It should work out very well and I'm not ready to retire fully yet, I like working and having my own money to throw around as I please.

originally posted by: DBCowboy

We may not have the newest cars in our driveway but we have no car payments.

I read an article about 20+ years ago that said the reason why you are broke is sitting in your driveway and that is even more valid today than back then. I typically keep my cars for 15+ years when possible and buy around the 2 years old range. I have a 2013 SUV Mercedes 350 and a 2014 Infiti Q60, so really nice cars but neither has 90k miles so both are in perfect condition.

Our house suits our needs.

Big house right now, but downsizing and not having a mortgage will open up traveling a good deal after retirement. My new job is allowing me to sell now and just sit on my equity for a couple of years to see where the housing market goes, and I think we will see a correction of 20% or so in the next 2 years.

The rating agency Fitch downgraded the US government’s top credit rating on Tuesday, a move that drew an angry response from the White House and surprised investors.


Fitch downgraded the United States to AA+ from AAA, citing fiscal deterioration over the next three years and repeated down-the-wire debt ceiling negotiations that threaten the government’s ability to pay its bills. It is the second major rating agency after Standard & Poor’s to strip the US of its triple-A rating.

www.theguardian.com...

originally posted by: JAGStorm

originally posted by: igloo
Not good if they were struggling before.

Our cities in canada are filling up with homeless camps and there are homeless camps out in the bush near our village as well as many elderly people living in cars and vans.

I totally think we are going to see a generation of car/van living people.

It's not so bad. I lived in a PU camper for years, traveling around the US, working odd jobs, busking on the street, meeting new people, making friends, freedom...It was wonderful not having all the incumbrances of a "normal" household. Times were different then...much different.

originally posted by: JAGStorm

originally posted by: igloo
Not good if they were struggling before.

Our cities in canada are filling up with homeless camps and there are homeless camps out in the bush near our village as well as many elderly people living in cars and vans.

I totally think we are going to see a generation of car/van living people.

this is what pessimism does to you, my youngest brought a flat (apartment) on min wages, he saved up, invested and got enough to buy a property of his own at 24, my middle one opted to have kids first, and is on his second.. and my eldest is looking to move again.

the only thing stopping kids is the barrage of negativity they have to endure its soul sapping stuff.. there is no reason for them not to..

my parents started off in one room and while property prices where low so where wages and at the bottom a home was impossible, it was the arrival of the car that changed it by offering the poor true social mobility..

putting kids in 15 min blocks and removing their access to car is what will kill social mobility and their access to homes.. its this convergence that liberal icons warned us about at the start of the 20th century when most of these things came up originally..

originally posted by: olaru12

originally posted by: JAGStorm

originally posted by: igloo
Not good if they were struggling before.

Our cities in canada are filling up with homeless camps and there are homeless camps out in the bush near our village as well as many elderly people living in cars and vans.

I totally think we are going to see a generation of car/van living people.

It's not so bad. I lived in a PU camper for years, traveling around the US, working odd jobs, busking on the street, meeting new people, making friends, freedom...It was wonderful not having all the incumbrances of a "normal" household. Times were different then...much different.

i think what people fear is living in a van in a 15 min neighbourhood and not legally be allowed to go anywhere else..