With the housing crisis in Canada getting worse and worse over the past few years I've been thinking more about Canada's economy, and more broadly the economies of many western countries, including the U.S. We seem to be moving into a situation where, on the face of things, nothing much has changed over the past few decades. But behind the scenes well-paying jobs are becoming more scarce, the cost of living is growing out of pace with compensation, raising children is laughably expensive, and pension plans are a rarity.
With the way things are you have to think that there is a growing psychological toll on many people living under financial pressure. We've essentially built a world that worked for a small time in the twentieth century, but the foundations no longer seem to be under us.
Then I ran into an article on Linkedin this morning:
Sudden Expenses are Out of Reach
One in four people in Canada can't afford a 500 dollar expense. That is an alarming statistic. It's getting bad now, but I think we're going to start seeing a serious crash when my generation approaches retirement age in a few decades, and literally nobody has any money.
I don't know what to make of it, or what the answers are, but clearly a lot has to change.
With the way things are you have to think that there is a growing psychological toll on many people living under financial pressure. We've essentially built a world that worked for a small time in the twentieth century, but the foundations no longer seem to be under us.
Then I ran into an article on Linkedin this morning:
Sudden Expenses are Out of Reach
One in four people in Canada can't afford a 500 dollar expense. That is an alarming statistic. It's getting bad now, but I think we're going to start seeing a serious crash when my generation approaches retirement age in a few decades, and literally nobody has any money.
I don't know what to make of it, or what the answers are, but clearly a lot has to change.