with canada going to heck and everything devaluing around us canucks, what can a young canuck do to climb out or be ontop of this mess and financial rubble heap?
There's no upside for a few months.
Until oil production cuts happen, the dollar and oil will continue there decline.
Unemployment is going to keep climbing.
The BoC will do everything in its power to prevent the housing crash.
They used to be dogmatic about inflation, but house values are all we have left. Once they fall everyone is going to blame the current gov't so expect the libs to pressure Poloz into negative rates.
I have lost thousands of dollars so far and expect the pain to continue.
so far I have:
a good job
low monthly expenditure
month-to-month rental(lease expired and was not renewed)
a couple grand in cash
I'm about as liquid as it gets. Hopefully housing corrects so I have some hope of one day owning a house, which is possible given speculation and chinese money that could be drying up
I only hope I still have a job.
not op btw, just another cancuck trying to live his life
The thing is, while housing has made lots of people wealthy undeservedly, the devaluation is destroying buying power and many people including myself actually reduce spending in this environment because buying power is more important than stuff/easy credit, etc. Unfortunately I feel like we're in the minority. I can only hope my "meekness" will allow me to inherit the earth. Or a piece of Canada
As I said here >>1039114
BoC will do everything it can to preserve the housing market.
Many many people have been sitting on cash waiting for the end of the bull market. Fears about a crash or harsh correction have been happening for the last two years. Don't expect a dip to last long. We might see the S&P 500 touch 1600 but it will quickly be bought up as people try and rush in to buy.
Housing prices are sticky. They will not budge despite bad news.
You may be right, there's a lot of cash waiting to jump in. But there's a generational issue where young people don't have the cash to buy these expensive houses. You're also right that housing prices are sticky in this country, but I wonder how many speculators will try to bail if prices start to come down.
We might see job losses before we see asset corrections but that's just my speculation and I don't know much
Negative interest rates---incentivized insolvency of fractional reserve systems--crazy. The other factor is that these reductions in rates are not being passed on to loan carriers.
How about condo sales with no down payment?
How do you guys buy shares of US companies.
I have a TD Waterhouse self-directed trading account BTW.
I, too, would like to know this. >>1039133
seems to have the right of it - stay mobile, stay liquid, and of course keep your wealth outside the country.
On my trading platform, there's a little maple leaf flag on a drop-down menu. I change that to the stars and stripes and enter the ticker symbol like normal. I'm not with TD, but if you call their customer service they should tell you.