With only a few days until Christmas, I've been pondering what the holidays will bring. Not to me, in the sense of presents, but to all of us in the sense of peace. After all, this is supposed to be the time of "peace on earth and goodwill to all mankind", and I'm wondering how positive are people about all of this.
I read in the news this morning that Canadians have lost approximately $191 Billion in assets because of the stock market and lower house prices. To me, that's a bit of a shock as it works out to $5800.00 (again, approximately) for every person (33,000,000) living in our fair country. I don't think I'd lose a lot of sleep over my house going down in value by that much, would you? By the same token, with 4 of us in the house, and doing 'proper' math, that would reflect a drop of $23, 200.00. Still a lot lower then the housing drops experienced in the States, and nowhere near what the media has been telling us was happening. Effectively, I don't think that the prices will drop much more, and realistically, I foresee a rise in the price of housing in 2009 as interest rates fall, mortgage payments become more affordable. Yes, I know how we are tied to the U.S., but being an optomist, I just can't see this slump continuing.
How will it all turn out? I don't know. But I do know this, that to change our economy, we need to support our economy. I buy from you, you buy from me, that's economy. And that's how the world goes 'round.
So, instead of all of the negative in the media, I'll just wish you peace on earth, and a very happy, and a prosperous (and generous) New Year.
Thanks for listening. :-)
Lee