|
Post by Jack Bauer on Apr 16, 2024 14:00:59 GMT -4
That is one of the issues in today's climate, young people just out of college/university/trade school buying a huge house plus new car and new 4 wheeler because they can get the financing then really struggling when rates go up. I started out with a duplex where I had rent for the other side plus a roommate, I had payments low enough that I could double them for most of the time I had it. The financial incompetency of people is a big problem, some will never get it but there’s too many people who want it all right away. They’re not willing to wait on these things and maybe some of it, is they’re not capable with rising costs to save that money but there’s too much frivolous spending on things. It’s tough to see people talk about how expensive things are and how they can’t get ahead when it’s pretty clear they’re spending well above their means. People need to stop taking the convenient route to answer their problems. I can never get over the amount of food delivery people going in and out of a fast food place the rare time I eat in any of them. Simply shopping for food (meal planning, sale watching, etc) is a skill a lot of younger people don't have. So when you spend $350 on what you want at Sobeys its easy for an Uber Eats to look like the better alternative.
|
|
|
Post by Captain Obvious on Apr 17, 2024 9:37:29 GMT -4
|
|
|
Post by Jack Bauer on Apr 17, 2024 9:41:50 GMT -4
That was actually pretty funny. PP loves the hot takes. But the minute he tries to "be real" he's exposed as someone who is anything but.
|
|
|
Post by Mika on Apr 17, 2024 10:05:11 GMT -4
I bought a year ago and thankfully I bought in a smaller home in an area where even at over 5% my mortgage isn't outrageous. But I don't know how people with homes in the $400K-$600K range will be able to do it on their next renewals considering what they got in at. Even with some of these recent announcements I don't see any housing numbers coming in any way that will change anything. 100 years ago our grandparents all had like 10 kids in a 2-3 bedroom. How people have 1-2 kids in that 2-3 bedroom. But our population is growing. There's no way any of these singular announcements change a thing any time soon. We need to literally build new cities to help that problem. Don’t get me wrong, Canada needs immigration but the problem is that we have a country with a population of 41 million people with an overall infrastructure that can handle 30 million at best. At least we have plenty of jobs available for young people who want to do that work- I get around Halifax a fair bit and see new cranes go up and buildings top out on a regular basis- I was in Montreal 2 weeks ago and was in awe of some of the juggernauts being built there, we are talking 40-50 floors. Are these affordable? If you are making six figures and the first digit ain’t a ONE then yeah. Like I said I’m glad I played hardball when I got my mortgage in 2021 by demanding a 10 year because as someone who had worked in the banking industry for too long I knew it was available if I persisted and my broker went to bat for me. Unfortunately I just got zapped with my condo fees because of the HRM property tax increase and insurance rates going nuts but that’s life as a “homeowner”. Maybe in Halifax, but here on PEI that's not really the case. My girlfriend was looking for a job and applied to so many places and it took months to just get a couple calls back. The jobs are there, if you're an easy to exploit and underpay foreign worker.
|
|
|
Post by Jack Bauer on Apr 17, 2024 10:16:24 GMT -4
Don’t get me wrong, Canada needs immigration but the problem is that we have a country with a population of 41 million people with an overall infrastructure that can handle 30 million at best. At least we have plenty of jobs available for young people who want to do that work- I get around Halifax a fair bit and see new cranes go up and buildings top out on a regular basis- I was in Montreal 2 weeks ago and was in awe of some of the juggernauts being built there, we are talking 40-50 floors. Are these affordable? If you are making six figures and the first digit ain’t a ONE then yeah. Like I said I’m glad I played hardball when I got my mortgage in 2021 by demanding a 10 year because as someone who had worked in the banking industry for too long I knew it was available if I persisted and my broker went to bat for me. Unfortunately I just got zapped with my condo fees because of the HRM property tax increase and insurance rates going nuts but that’s life as a “homeowner”. Maybe in Halifax, but here on PEI that's not really the case. My girlfriend was looking for a job and applied to so many places and it took months to just get a couple calls back. The jobs are there, if you're an easy to exploit and underpay foreign worker. There's also a ton...like an absolute TON...of misinformation about foreign workers. Every single person over the age of 60 here will tell you the federal government is paying their wages. Which isn't even close to being the truth. A lot of the minimum wage job stuff is coming down to would you rather a 21yr old foreign worker who is agreeable and happy to work any shift and works their ass off or give the job to a 17yr old high school kid who can't work certain times and might not have the best work ethic. I have friends who have worked management in retail who just get endlessly frustrated with the local view on employment and how every single local kid (which just means white to these people btw) should get jobs over anyone who may look like they were born in another country. Its 100% more of a grind to prove your worth and your work ethic for local kids today. But I don't think the competition is a bad thing overall. Personally I can say the retail/fast food service I get from a team of foreign workers attending University tends to trump the same service from a group of local teenagers.
|
|
|
Post by Mika on Apr 17, 2024 10:40:14 GMT -4
Maybe in Halifax, but here on PEI that's not really the case. My girlfriend was looking for a job and applied to so many places and it took months to just get a couple calls back. The jobs are there, if you're an easy to exploit and underpay foreign worker. There's also a ton...like an absolute TON...of misinformation about foreign workers. Every single person over the age of 60 here will tell you the federal government is paying their wages. Which isn't even close to being the truth. A lot of the minimum wage job stuff is coming down to would you rather a 21yr old foreign worker who is agreeable and happy to work any shift and works their ass off or give the job to a 17yr old high school kid who can't work certain times and might not have the best work ethic. I have friends who have worked management in retail who just get endlessly frustrated with the local view on employment and how every single local kid (which just means white to these people btw) should get jobs over anyone who may look like they were born in another country. Its 100% more of a grind to prove your worth and your work ethic for local kids today. But I don't think the competition is a bad thing overall. Personally I can say the retail/fast food service I get from a team of foreign workers attending University tends to trump the same service from a group of local teenagers. Except in my girlfriend's case it isn't a matter of her being a lazy teenager. She's 32, loves to work, and has a solid employment record. She had to take time off to deal with an illness but has been good to work since. Calls are finally starting to come in though. Though it is easier for a foreign worker to be exploited with threats of deportation and things like that. The oddly high increase in immigration and foreign workers has had an impact on the job market, that's just a numbers thing too. More people = more competition = more job rejections.
|
|
|
Post by Jack Bauer on Apr 17, 2024 10:46:03 GMT -4
There's also a ton...like an absolute TON...of misinformation about foreign workers. Every single person over the age of 60 here will tell you the federal government is paying their wages. Which isn't even close to being the truth. A lot of the minimum wage job stuff is coming down to would you rather a 21yr old foreign worker who is agreeable and happy to work any shift and works their ass off or give the job to a 17yr old high school kid who can't work certain times and might not have the best work ethic. I have friends who have worked management in retail who just get endlessly frustrated with the local view on employment and how every single local kid (which just means white to these people btw) should get jobs over anyone who may look like they were born in another country. Its 100% more of a grind to prove your worth and your work ethic for local kids today. But I don't think the competition is a bad thing overall. Personally I can say the retail/fast food service I get from a team of foreign workers attending University tends to trump the same service from a group of local teenagers. Except in my girlfriend's case it isn't a matter of her being a lazy teenager. She's 32, loves to work, and has a solid employment record. She had to take time off to deal with an illness but has been good to work since. Calls are finally starting to come in though. Though it is easier for a foreign worker to be exploited with threats of deportation and things like that. The oddly high increase in immigration and foreign workers has had an impact on the job market, that's just a numbers thing too. More people = more competition = more job rejections. Its a highly competitive economy. Gaps in your employment history will work against you. Employers are looking at reliability even above the skills needed to do the job at times. Finding that opportunity to get back in and make a name for yourself again is a challenge, no doubt.
|
|
|
Post by moosefan1994 on Apr 17, 2024 11:29:08 GMT -4
Don’t get me wrong, Canada needs immigration but the problem is that we have a country with a population of 41 million people with an overall infrastructure that can handle 30 million at best. At least we have plenty of jobs available for young people who want to do that work- I get around Halifax a fair bit and see new cranes go up and buildings top out on a regular basis- I was in Montreal 2 weeks ago and was in awe of some of the juggernauts being built there, we are talking 40-50 floors. Are these affordable? If you are making six figures and the first digit ain’t a ONE then yeah. Like I said I’m glad I played hardball when I got my mortgage in 2021 by demanding a 10 year because as someone who had worked in the banking industry for too long I knew it was available if I persisted and my broker went to bat for me. Unfortunately I just got zapped with my condo fees because of the HRM property tax increase and insurance rates going nuts but that’s life as a “homeowner”. Maybe in Halifax, but here on PEI that's not really the case. My girlfriend was looking for a job and applied to so many places and it took months to just get a couple calls back. The jobs are there, if you're an easy to exploit and underpay foreign worker. I was talking about tradespeople, construction, electrician, plumbing etc
|
|
|
Post by moosefan1994 on Apr 17, 2024 11:39:14 GMT -4
Except in my girlfriend's case it isn't a matter of her being a lazy teenager. She's 32, loves to work, and has a solid employment record. She had to take time off to deal with an illness but has been good to work since. Calls are finally starting to come in though. Though it is easier for a foreign worker to be exploited with threats of deportation and things like that. The oddly high increase in immigration and foreign workers has had an impact on the job market, that's just a numbers thing too. More people = more competition = more job rejections. Its a highly competitive economy. Gaps in your employment history will work against you. Employers are looking at reliability even above the skills needed to do the job at times. Finding that opportunity to get back in and make a name for yourself again is a challenge, no doubt. I got really lucky- November 2019 after dealing with a new manager that I didn’t like I took off my badge and quit on the spot and walked out of the office after being there for 16 years. I came back to Halifax after staying in Truro in June 2020- despite the gap of 10 months I got a better job than what I had before with a different bank. I worked for a bit for a company that really took advantage of foreign workers looking to get their PR status, it was a real eye opener.
|
|
|
Post by Jack Bauer on Apr 17, 2024 12:02:03 GMT -4
Its a highly competitive economy. Gaps in your employment history will work against you. Employers are looking at reliability even above the skills needed to do the job at times. Finding that opportunity to get back in and make a name for yourself again is a challenge, no doubt. I got really lucky- November 2019 after dealing with a new manager that I didn’t like I took off my badge and quit on the spot and walked out of the office after being there for 16 years. I came back to Halifax after staying in Truro in June 2020- despite the gap of 10 months I got a better job than what I had before with a different bank. I worked for a bit for a company that really took advantage of foreign workers looking to get their PR status, it was a real eye opener. I've never not bet on myself and been upset with the outcome. You can't stay where you're not happy. Sometimes taking less or putting yourself in a position to free up time to do other things can lead to being more stable and content. Working in tech the covid work from home boom really opened up other avenues for me within the industry.
|
|