Ryan LeBaron - Fotolia.com

This year’s birthday for Canada was for the ages and one to remember. As Canada turned 144 years, not only did we celebrate an iconic day as a nation, but we also celebrated being Canadian. After all, it has never been a better time to be a Canadian. As the world around us struggles to dig it self out of a recession, Canada continues to prosper and set examples to other countries. Canada has not only emerged as a world economic leader, but it continues to set precedents to other countries in terms of job creation, housing market, debt management, financials and economy as a whole. As others around us continue to argue over dollars and cents, rather than focus on the main goal as a whole, Canadians have come together, mutually agreed upon and continue to work together as one, in order to create the Canada that we have today. Economic certainty lingers in Canada as well. We as a nation are not perfect. After all, we are so dependent on the neighbors south of us, that it is said; “If the U.S. sneeze, Canada feels the flu like effects”. And, yes there is truth to that, no doubt. In the same breath though, we continue to diversify our selves, rather than solely depend on one nation. Let’s not lose sight of the inarguable fact; Canada is rich.

Strong Housing Market

Price of Real Estate across Canada continues to rise and the forecast looks favorable. Canadians are buying homes, without showing any signs of backing off. And there are good reasons for that. The interest rates for the last 18 months have been ultra low. Even now, the government of Canada has not given any strong indication that the interest rates will be risen, thus far everything has been speculation. Furthermore, new developments are everywhere you look across Canada and the value of properties continues to rise at a steady pace. Will this continue forever? Not likely, after all we have to be realistic with our selves. But, before getting ahead of our selves, part of being realistic is to admit how we got here. Let’s not be too cocky. Canada’s strong housing market is directly due to borrowing a lot of money. Canadian household debt sits roughly at 146.9 percent of income. That’s higher than our U.S. neighbors, who had 130 percent of debt to income prior to the recession. Some economists are worried due to Canadians stretching them selves thin. Warning that some of us may not be able to withstand another Economic downturn. Time will tell though.

Job Creation

Canada’s unemployment rate continues to sit at 7.4 percent. Job creation continues to be a strong backbone in Canada. For the month of June, there were 28,000 jobs created. Furthermore, over the past 12 months, 238,000  more people entered the workforce according to Trading Economics. New grads are finding opportunities to enter the workforce, as companies continue to hire.

Strong Dollar

Canadian dollar continues to rise, mostly due to debt crisis happening around the world. Not only, does a strong loonie give Canadians stronger buying power, but world’s money traders continue to eat up the Canadian dollar.  Despite a strong dollar, not all news is good. Exports are taking a major hit and it’s becoming harder to woo foreign investors. Like most things in life, they have two sides to every story, both positives and negatives. Simply impossible to win on every front.

Strong Entrepreneurial Spirit

Bankruptcy rates for businesses are the lowest in 30+ years. In 2010 the number of bankruptcies was 65 percent lower than in 1990. Furthermore, the number of self-employed Canadians increased by roughly 18 percent, between 2001-2006, double the rate for normal employment. Canadian government has invested vastly into small and mid-size businesses. Not to mention the tax cuts made available directly to small, mid and large size businesses. Despite the HST being introduced not too long ago and not favored at all, there is one positive aspect to it. With the introduction of the HST, it has made bookkeeping and tax returns much simpler for business owners.

Environmentally Friendly

Canadians are putting in a full effort towards environmental endeavors.  Calgary won the Mercer Ecology Study, ranking as the world’s most eco-friendly city, just ahead of Honolulu, for their $430-million Pine Creek Wastewater Treatment. Super moms from Calgary formed a new company called KidSeat Recyclers, after learning that over 190,000 kids car seats end up in landfills across Canada.

Host Nation

Vancouver hosted the 2010 Olympics in great fashion, making the 2010 Olympics one of the biggest success’s in Olympic history. While critics thought Canada would falter during the Olympics, primarily due to tough economic times, we came through and hosted an event to remember. Furthermore, Canada continues to host events, including the Pan Am Games 2015 in Toronto and 2015 Women’s FIFA World Cup of Soccer in Alberta. Furthermore, as sport franchises struggle south of the border, Canada continues to welcome new teams via expansion and relocation, including the Winnipeg Jets (formerly Atlanta Trashers), Vancouver Whitecaps  (new expansion) and Montreal Impact (new expansion 2012).

Final Word

We as Canadians are having the time of our lives. As the economy continues to prosper, new jobs are created and new opportunities present them selves. Once looked upon as the long lost cousin of U.S. we are that no more. Instead we are praised for our strong unity, hard work and looked upon as a leader to other nations in struggle. Canada continues to attract some of the world’s brightest immigrants seeking to further their eduction or invest in Canada. After all, we’ve always been the land of opportunity, where the opportunity exists for some of the best education and earning a good living. In fact, it is said that of Canada’s wealthiest families, 30% were not born here. Of those wealthiest families, 95% of the families are self-made, by creating their own wealth.

Personally speaking I was not born in Canada. I came to Canada as an immigrant from a war torn country at a young age of 9 years. I am proud to be Canadian. It has given me every opportunity I have ever wanted. It has given me the education I desired, career I wanted, two side incomes (businesses) and everything else I’ve set my mind to.

What are your thoughts, are we having the time of our lives as Canadians?

 

Eddie