Worth sharing with you. This email arrived Saturday. — Garth
Hi Garth, I’m writing to you from one of the real estate insanity centers in this country, Ft. Mac. As a follower of your blog I have noticed your frustration with the average Canadian’s reluctance to “get it”. I’m writing to you today to tell you you’re not alone.
I won’t bore you with personal details on how I got here, let’s just say I’m a northern BC economic refugee. We are many. I had the skills to get here and as such am one of the economically blessed, my children will not want. I started to read your blog and bought all your books starting in October of 2009. That month saw the end of 16 years of steady employment and a stable family life evaporate in an instant with a letter of permanent closure. In this too across this country, we are many.
I came here to this place only to be shocked by the insulation of the locals that have never had to face what the Chinese call “interesting times”. The housing market here is artificially supported by company housing subsidies and dangerously cheap mortgage rates. I arrived here with many new people from the economic wastelands of central Canada, the west coast, the east coast. I spoke to many of them and pointed them to your blog and your books, urging them to carefully consider their economic choices at present and in the future. Most would not listen, buying in to a market at top prices just to reach that middle class comfy zone that I have learned can be destroyed in an instant. However, a very few others agreed with me and rent here, carefully investing their extra funds in to the financial vehicles that you have recommended.
I have learned that you can’t convince most people of an alternate economic path that will lead to security and prosperity like what you are suggesting in your books and blog. However you can convince a very few. You have to be satisfied with that.
I would like to thank you personally for your insight and efforts. As I write, my mortgage free house in northern BC is being assessed for a HELOC loan. The TFSA’s for myself and my wife will be filled with sector ETF’s. I have an investerline account that will be filled with tax hedged investments that I will add to every month faithfully. Thanks to you, it’s now possible to live comfortably in old age and give my children a fighting chance in a world ruled by inept financial management. I’m still stunned by the short sighted policies of this country that encourages real estate speculation at the expense of the greater economy.
Keep on writing Garth and keep the faith. You might not reach all the people, but I listened and acted. I suspect that you know yourself that soon enough those of us that think this way will be many rather than few. I agree with you that the wealth destruction of an entire generation is imminent. So as I struggle in the biting cold of another –32 degree night to keep that oil going I look south, and in the darkness I smile.