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Josh Findlay Mortgage Agent

Josh Findlay

Mortgage Agent


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440 Phillip Street , Kitchener, Ontario

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The world isn't the same place it was a decade ago, the average consumer has countless options at their disposal at any given moment thanks to the technological advancements of the internet. This digital age has brought about a bespoke marketplace that caters specifically to your specific wants and needs. My goal as a licensed mortgage agent is to understand the everchanging landscape of the mortgage industry to create a product that is unique to your specific needs.Your choice to work with a professional that has the knowledge and strong relationships in place to secure the best deal possible is the standard of service that you should expect in today’s marketplace.

 


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Millennials Are Generation Screwed, So What Can We Do About It?

Millennials are having a rough time, no doubt about it. Perhaps one of the most lambasted generations ever, Millennials (and just so were on the same page, Millennials are people born between 1981 and 1996) are portrayed as lazy, self-entitled, and unable to escape their parents basements by many of the talking heads in the mainstream media. As a member of the Millennial generation, I would like to offer an alternative perspective. One from the trenches. Bad Advice When It Comes To Education The world has changed drastically in the last 30 years. We were told that in order to succeed, you had to go to school and get a good paying job. Because that is what worked for the Boomers and the generations before us. Taken on its own, thats not necessarily bad advice, but the game has changed. Tuition has been increasing consistently since our parents days and we were expected to take on a greater financial burden than our forebears did just to geta chance at a jobthat has reasonable rate of pay. And thats assuming we werent encouraged to take a course with virtually zero real world use in the workplace. According to the Canadian Federation of Students, in 2015,Canadian Millennials carrying student debt owed an average of$27,000. At the tender age of 18, we were expected to figure out the best career for our futures before having any real idea what our skills were. We were then convinced that it somehow made sense for us to take on tens of thousands of dollars of debt in the process, debt that is almost impossible to get rid of, even in the case of bankruptcy, with no guarantee of a job once we were finished. Thats nuts! We were kids! We werent able to legally drink yet, but we could sign up for life crushing amounts of debt with no way out. Makes sense to me We also graduated in large part into the Great Recession, one of the worst times in recent memory to begin looking for a job. In the years following 2008, employers were buckling down and shedding jobs. They werent looking to hire new, untested and untrained staff, and unfortunately for us we were not too big to fail. This meant that many Millennials couldnt get hired in the fields they trained for and had to take jobs like the cliched Starbucks baristas we always hear about in the media. Serving lattes wasnt just the fate of Communications and Gender Studies majors either. This had the additional nasty side effect of skill decay. Being outside of your field after graduation for a couple of years essentially makes that piece of paper you paid tens of thousands of dollars for worthless. The industry has evolved, now you need to retrain and learn new skills. Sorry about your luck, and by the way, youre going to owe us another round of tuition to update those skills. In our parents day, work was plentiful. Ive heard from a number of Boomers that they could find work at a random factory, leave their job in the morning and walk across the street and get another job that afternoon! And these were often jobs with wages that could comfortably sustain a family, a mortgage, and a car payment with enough left over to save. Not only is that not the case anymore, even respectable jobs often dont pay enough to support a family and most households require two incomes to just be at parity with what the Boomers managed in their day with one provider. Bad Advice When It Comes To Buying A Home We were told that we had to buy a home and start climbing the property ladder. But according to the data, home prices have beencontinuing to risewhile the average incomehas actually dropped.Millennials are the first generation in history that will be less wealthy on average than their parents. When the Boomers graduated from college decades ago,the average home price was $213,000, roughly a4:1ratio to the average income at the time. As of 2017,the average home price is $510,000,a considerable gain. And thats great for existing home owners. But for anyone trying to buy into the market, that just means the barrier to entry has been raised. Combined with additional taxes and the new mortgage qualification rules, and Millennials have been effectively priced out of the housing market. An increase in housing prices and a decline in average wages is a recipe for an entire generation to delay buying a home. Add in the fact that rent has been steadily increasing across Canada but especially in the major metropolitan centers like Toronto and Vancouver, and were being squeezed from both ends. Not only do we need to savemore moneyto make a down payment than our parents did, we have to do it whileearning lessandpaying morein rent and living expenses each month, while servicingrecord levels of student debt! In a bit of irony that would be funny if it werent so tragic, the regulations introduced in January of 2018 that were meant to cool the housing market and make homes more affordable haveactually made it more difficult for new home buyers. Because of the increase in the qualifying rate, buyers that would have before been looking at more expensive detached homes are considering more affordable options like town homes, condominiums, and semi-detached homes that are usually the entry level options for younger buyers. This has only raised the barrier to entry further. The demand for housing hasnt really changed just because the qualifying rate is 2% higher, its just been redirected. When we crunch the numbers and look around the housing market, the situation looks bleak. Millennial Woes So whats a Millennial to do? Well, its not all bad. There are a few rays of sunshine peeking through the storm clouds. Read More:Victim Mentality And The Two Wolves The first upshot is the economy is changing. Technology is nearly ubiquitous,we carry devices in our pockets that are a million times more powerfulthan the computing power we used to get to the moon while being thousands of times less expensive. This is enabling opportunities that could not have existed a mere five years ago. The rise of the gig economy and freelancing is changing the way we work and earn money. Its never been easier or cheaper to start a business, find customers, and start generating revenue. The nature of work today is becoming less location dependent, and your formal education is less important than the skills and value you can provide to people. You can take courses for virtually anything online, both paid and unpaid, and you can take your own unique skills and teach others who will gladly pay you in return. Uber and Lyft have made it easy to start earning money by just driving around in your car. On the housing front, this means that you dont have to live in a major metropolitan area to secure a job that pays a decent wage. A house in Toronto that costs $766,000 would cost an average of $341,000 in Montreal. Go outside of the major cities into the smaller municipalities and the average price goes down even more. Its possible to live in an area that is less expensive, while still earning the same kinds of wages you can get in a major city like Toronto. We just have to be willing to walk a different path than our parents did and start taking matters into our own hands. Author: Thomas Traplin

Student Challenge Winners Bring Innovative Ideas to Creating Affordable Rental Housing in Canada

With innovative and fresh approaches to create more affordable rental housing in the country, the Honourable Jean-Yves Duclos, Minister of Families, Children and Social Development and Minister Responsible for Canada Mortgage and Housing Corporation, announced the winners of the Innovation Fund Student Challenge. Three teams have been selected as winners earning the full award of $10,000: The Beaver York University Compact Homes: Innovative Solutions Solving the Affordability Challenge Queens University The Jetty: An Affordable Housing Cooperative Dalhousie University The Beaver York University Michael Kenny, Bria Hamilton, Allison Evans, Helen Lam, Jane Bae The Beaver Co-op is a proposed 12-story affordable rental apartment building that incorporates an innovative building technique and cost-saving measure through the use of mass timber construction in affordable housing, which is still relatively new to the sector. Passive design and green technology are incorporated to minimize waste and energy usage. The financial innovation stems from the multi-stakeholder community development approach that aims to generate financial support via community bonds, union pension funds, and credit unions. Compact Homes: Innovative Solutions Solving the Affordability Challenge Queens University Lindsay Allman, Andrew Eberhard, Gabrielle Snow, Peter Huan The Compact Homes project proposes an innovative Tiny Home Community that seeks to leverage existing programs and lands to produce single occupant, rent geared to income units, and can be constructed to meet stringent accessibility and environmental efficiency requirements. The Jetty: An Affordable Housing Cooperative Dalhousie University Juniper Littlefield, Mitch Gold, Lina El-Setouhy, Chloe Espiard The Jetty Affordable Housing project proposes a housing cooperative operated in partnership with local post-secondary institutions, targeting the student population with recycled shipping container apartments, as well as providing additional housing for seniors, singles and families. https://www.cmhc-schl.gc.ca/en/media-newsroom/news-releases/2018/student-challenge-winners-bring-innovative-ideas-creating-affordable-rental-housing-canada

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