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December 12, 20236 Comments

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Teaching kids about inflation

My son recently bought a house. Its was a genuine struggle for him. Buying a home is something that most people his age these days are simply unable to do, given Canada’s mega-inflated housing market. The house was a near-teardown when he found it. Because he is in the construction industry, he was able to  personally gut/renovate a property that, for most, would have required a six figure construction budget. Even so, the price he paid for this property was unbelievably high. Effectively, he would have purchased a turn-key, new, well constructed detached home with all the comforts – for the same money just 5 years ago. So what happened?

The single best explanation I have ever seen detailing how inflation managed to erupt over the past few years, particularly impacting Canadian real estate, is on this video. Its 15 minutes long, and everyone, including your kids, should see it. Yes, it was done by PC leader Pierre Poilievre. Putting any political prejudices aside, I feel its of immense benefit for people trying to understand the basics of the economy. I like that its educational, factual, and focuses on the numbers and solutions, rather than blather on about partisan nonsense. Just a FYI.

6 Comments

  • Keith, absolutely read each and every blog you write and look forward to them with my morning tea. Thank you for putting the work into each of them.

    For real estate, I can’t see much good coming out of it for the near future. It maybe the push to “own nothing an be happy” by increasing the costs of ownership in everyway possible, but we just sold 2 weeks ago our newish dream house 5 mins from d/t on the river and going to rent. I’m in the lucky position I didn’t have to worry about interest rates, mortgage or carrying costs but I see what the light at the end of the tunnel is with COP28 and gov’t policies (no more single family zoning, phase out of nat gas, furnaces to heat pumps, increasing carbon taxes, maybe changing the primary res tax exemption) and its a train. That said, glad to not own a house anymore sadly.

    Partly sitting at 6% HISA cash isn’t bad feeling at all.

    Keep up the great work, will be following.

    Reply
    • You will enjoy my year end rant–it is a very, very poignant criticism of the WEF and the Great Reset agenda. Look for it near month end.

      Reply
      • Can’t wait, I read it eagerly each year. Goes to show how good your knowledge is!

        Thank you.

        Reply
  • Should be a 15 min video on how stupid Canadians at all levels can let a moron like Trudeau and his equally dumb side kick Freeland stay in power. Not sure what they do to count when they run out of fingers… When stupid people think they are actually smart it hurts us all. Maybe there shoud be a chart for that… until then, I am a true fan of yours Keith. Keep the blogs coming.

    Reply
  • Please mention Javier milei of Argentina in your rant and the common sense things he will implement

    Reply
    • At the ending of the rant covers the positive changes happening in world politics as voters get wise to what is happening–I note Argentina, netherlands, etc
      I covered alot!

      Reply

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