Wednesday, May 1, 2013

live small, with a neighbour

I like living in a house, with trees in the front yard.

["Having a workshop is a very good idea"]

And I currently live in one that will very likely be my last earthly address, in Wortley Village, London, Ontario. The house is small, close to the corner of Coffee and Hardware, has a great workshop in the backyard and is surrounded my wonderful neighbours and hundreds of healthy trees.

["My situation may change": April 18, London Free Press]

Recent news has me thinking. Will I one day have to rent out the basement in order to stay where I am? Will one of my philosophies of life, i.e., 'live small and prosper', have to change to 'live small and prosper and with a neighbour or friend renting out the basement in order to cover expenses'?

["Easy money and household debt court disaster"] 

The new normal appears to involve higher unemployment, rising household debt, vast wealth in the hands of the few, a resistance to taxes and paying our collective way, fewer safety nets to help those with decent jobs, rising threats to pensions and bad news around every corner.

Some will ask, "All this from a recent news article?"

Not word for word, but it got me thinking of the following:

Low interest rates have fuelled rising household debt

New home buyers are lured by cheap money

When interest rates go up so will the struggles related to paying mortgages

Sustaining an economy with low interest courts disaster

Low interest doesn't sustain pension funds, it robs them of growth

Pensioners will struggle as well to keep their homes

I should tidy up my basement. I'll need a broom and a lot of cardboard boxes.

Do events related to the housing market seem troubling to you?

Photos by GH


Please click here for local unemployment figures

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