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Any kind of engineering is a good idea. Basically think of the areas that can't be outsourced.

- Health Sciences
- Engineering
- Trades
- Marketing
- Sales

Stay away from the Arts, Music, Philosophy, History, English Lit, etc. unless you are planning to go into teaching -- which is another good area.

That would be my advice to my kids (if I had them). I know it's cruel, and we would all love to be able to spend 4 years in university learning about art history and discussing our thoughts but in this real world, it's likely going to get you a job at McDonald's and a $80,000 student loan that keeps collecting interest.

If you ever watch that show "Till Debt Do Us Part" you will notice majority of home owner issues with debt start from having a very high student loan that hasn't been paid off before they buy their houses.

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Interesting read

http://money.ca.msn.com/investing/jim-j ... ial-crisis

Another one:

http://www.moneyville.ca/article/100949 ... ubble?bn=1

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Interesting FP article around the balance between prices & rates.

http://www.financialpost.com/personal-f ... story.html

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A little off-topic again but I usually watch House Hunters - International sometimes and I see that house prices in Europe (Italy, France, Greece etc.) don't seem to be too affected by the economy and people seem to just accept the fact and pay the premium to own a home.

Maybe this might become the norm in Canada as we grow in population, land becomes scarce around the major urban/economic hubs and couple that with rising fuel prices which would make it tougher to commute longer distances to afford a house on the outskirts.

Just a thought...

Normally you would think if price of fuel goes up, desire to live in the 'burbs would go down. In Milton, it seems like fuel prices don't affect the majority; most of the vehicles I have seen driving around town are brand new 4-door Jeep Wranglers. Not the most economical commuter vehicle...

Another interesting article about Vancouver (and probably to a lesser extent Toronto)

http://www.theglobeandmail.com/report-o ... le2072241/

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You can't compare Ireland's economy to that of Canada. They are apples and oranges. I totally agree that the condo market in Toronto/Vancouver is waaaaay over-valued but you still can't compare these two economies.

The jobs, exports, growth etc. in Ireland isn't the same as Canada.

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Strange article... the title really should be

I bought in the suburbs before I was ready to settle down and ended up realizing i still wanted to live downtown Toronto where the action is...

I think we're giving him too much credit. Look at him, Im sure Ive run into him at Century Room. lol He realized the club scene in Milton is non-existent.

Gotta love that rent -> own ratio calculation.

Of course it's gonna come out better, renting a sub 400 sq/ft closet downtown compared to a 3 bedroom, 2 floor house probably around 1700 sq/ft. (3 times the size).

But yeah, why would a single twenty something want to live in Milton? Seriously. If I was single and young (oh the good old days) I would be renting some ubber-cool loft downtown with a rooftop terrace and rooftop hot tub -- And having some SERIOUS fun.

I'd also put the extra money I was saving on renting vs. owning towards a car payment on a pimped out Benz or maybe even a Vette. Do it up in style!

Oh the good old days, when I blew all my money on fast cars, fancy restaurants, the downtown entertainment district scene, $10 mixed drinks, and a new designer clothing outfit every weekend.

I guess, we just get older and our money goes into different things. Either way, I barely remember those expensive nights out, the fast car has long since been sold for next to nothing and I can't fit into any of the now "outdated" designer clothing So in the end, I have some life experience and some memories, but I don't miss it.

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LOL Love running into those once in a while. Dont know how their liver does it after a solid 10 years of that.

No no.. just pointing out that you may say paying a mortgage is stupid and throwing away money... and I'm just pointing out that when I was a renter, I threw away my money on useless things.

In the end, I traded the sports car (and life threatening winter driving) for a nice SUV... stopped buying the $200 pairs of jeans that went out of style within a month and started buying modest AE stuff and instead of trolling around a club at all hours of the night sipping $10 watered down mixed drinks, I sit in the backyard enjoying a strong rye n coke.

Difference is, back then I was desperately trying to get laid, now I can do that whenever I want!

Priorities change in life. In the end, money is just money, you can't take it with you. How you "throw it away" is up to you. If you enjoy having it all in paper investments somewhere, that's your choice. If you enjoy having it thrown into a house, again your choice. Eventually we'll leave this earth (either in a few days or in several years) so as long as you used your money the way that makes you happy, then life is good!

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That article is 95% about his lifestyle and 5% about the economics.
He wasn't ready for home ownership in the burbs, plain and simple.

I think the beginning of the story of the housing decline is being written as we speak. Inflation rose to 3.7% in May and this will pressure the BoC to start moving on the interest rates and the rest will be history.