Anytime something encouraging happens within the economy, I find myself bracing for the deluge of problematic social media prophesizing.
Should we be concerned when we have 23-year-olds with neither degrees nor relevant work experience speaking with implied authority on subjects that actual bank CEOs can’t reach consensus on?
How about a subject that has the economists leaning one way, all while the markets are pricing-in something different?Article contentAnd on the real estate front, we have had some good news lately. The Toronto resale market has certainly come back to life recently, with buyers back out there and willing to compete for a good product.
And as we look to the sentiment driving that behaviour, one can only assume people are sick and tired of waiting. They either believe the worst is now over or they are making a calculated risk that even if there are more bumps ahead they have weighed the pros and cons, risks and rewards, and are comfortable. These buyers have my full support..But now needs to be the season of the conscientious consumer. The perspectives we platform and the counsel we take is entirely our responsibility.
Recent headlines abound with stories of good people who fell victim to FOMO or took unvetted advice and got themselves way in over their heads, in most cases bringing with it some degree of financial calamity.I often think about what a surf instructor once told me in Mexico: calm waters often conceal fatal riptides.
It doesn’t mean we need to stand trembling on the shore, but it does mean we need to look around and keep our wits about us.
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