Posted in Finance, Real Estate

Norma Walton Talks: Predictions for Residential Real Estate

I predict that the price of houses in towns and cities that are within one to two hours of Toronto will skyrocket in value over the next two years, outpacing the average price appreciation for all residential real estate in Ontario.  There are three reasons I make this prediction.

First, with the onset of COVID, a lot of employers have been forced to permit their employees to work from home.  This is a trend that is here to stay.  Even bankers and lawyers are working from home.  That flexibility and the concept that you may only need to attend the office in person two to three days a week removes the need for people to live in or near the big city.  Commuting a few days a week is not as onerous as commuting every single weekday.  This provides flexibility and opens up a much larger radius around the city for purchasing a home.  The smaller towns are far more affordable than Toronto.  A colleague of mine recently bought a brand new home in Bracebridge for less than $500,000.  That is an attractive metric for many people who currently live in the city.

Second, there are so many condominium dwellers and apartment dwellers who are sick of waiting 45 minutes or more for the elevator due to social distancing.  They are also tired of heading up and down the emergency exit stairs trying to keep their distance.  They are desperate to breathe the fresh air and spend some time outdoors given the state of emergency orders that have been in place.  Many condominiums and apartments have no outdoor space.  Those feelings of having been cooped up in a box will drive many of those condominium owners to sell their condominiums and purchase houses that they can afford…and those affordable communities are typically at least an hour outside of Toronto and often as far away as two hours away.

Macleans photo

Finally, the price of houses in the city of Toronto remains incredibly high.  The prices are completely unaffordable for most families.  Anyone coming into the city from elsewhere in Canada cannot afford to buy in Toronto.  That lack of access to affordable houses in the city will drive people who want a backyard and their own house further and further outside of the city limits.

Those three trends support my prediction that homes in the surrounding communities within one to two hours of Toronto will skyrocket over the next two years.  We’ll see if the prediction comes to fruition.

Posted in Finance

Charles Dickens was right

Charles Dickens wrote David Copperfield in 1850. In it, he introduced a character named Wilkins Micawber. Wilkins said something incredibly wise yet incredibly simple:

Income 20 pounds
Expenses 19 pounds
Result: Happiness

Income 20 pounds
Expenses 21 pounds
Result: Misery

That concept is fundamental to financial management. If your income does not cover your expenses, you will struggle in life whereas if your income does cover your expenses, even by a little bit, you will generally be happy financially.

When I apply that concept to my own life, I realize that I either have to earn more income or reduce my expenses when I am not in balance. The key is to make more or spend less.

Charles Dickens was right!

Posted in Finance

Amazon shopping in the age of COVID

I was never an online shopper. I always went to the store so I could touch and feel the products I was about to buy. All that changed with COVID. All of a sudden, I was forced to shop online. A whole new world awaited!

I have now joined Amazon Prime for the free shipping and other perks. I understand why Amazon’s stock has sky rocketed during the pandemic. What a fabulous offering.

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During the pandemic, I have purchased a few products.

I needed a trunk liftgate latch for our vehicle. The mechanic told me he had to order it new but that I might be able to buy it on Amazon for less then he could install it. I bought it for $75 instead of the $300 that it would have cost new.

I needed printer cartridges for our printer. It is so frustrating to purchase a printer for a good price then to pay hundreds of dollars every time you need new cartridges. Amazon had them for a good price and they were delivered within two days of ordering.

I love to make pancakes for the kids. As a result I go through a lot of grills. When my old one’s teflon began to wear out, I bought a Sunbeam large grill that is perfect for a whole bunch of pancakes. It was delivered the next day.

I doubt I will go back to shopping in store now that I have discovered the ease of shopping on Amazon.ca.

*This content is in no way sponsored by Amazon

Posted in Finance, Investing, Real Estate

Statement of Facts by Norma Walton

https://www.podbean.com/media/share/pb-djeyd-c02c48

For the first time since criminal charges were laid in April 2016, Norma Walton comments publicly on her conviction and sentencing.  She reviews the facts concerning the acrimonious civil and criminal litigation that has occurred with her ex-partner Dr. Stanley Karl Bernstein.  She shares the context and history of the business relationship in the hope that viewers, readers and those that are interested can analyze and form their own views of the situation once they know the facts.

Posted in Finance, Investing, Real Estate

Norma Walton Comments on Conviction and Sentencing

https://www.podbean.com/media/share/pb-u6fwx-c02bd5

For the first time since criminal charges were laid in April 2016, Norma Walton comments publicly on her conviction and sentencing.  She reviews the facts concerning the acrimonious civil and criminal litigation that has occurred with her ex-partner Dr. Stanley Karl Bernstein.  She shares the context and history of the business relationship in the hope that viewers, readers and those that are interested can analyze and form their own views of the situation once they know the facts.