Love, Mom

Kids, there is a lot of talk about affordability and housing right now. I know it has you scared about the future. I really appreciate that you can talk to me and the other trusted adults in your life about it.

There is a lot for all of us to consider. There is no question that in these changing times, we all have to think about playing to where the puck is heading. We each need to keep learning and building our skills, seeking good jobs and creating and growing great businesses. By being resourceful, curious and connecting with the world, we find exciting opportunities and keep developing the means to take care of ourselves, our families and communities.

Having been brought up by a family that started with very little but worked very, very hard, my advice would be to keep your eyes high, your spending modest and work on becoming a thrifty saver! I see in each of you the potential to thrive through all the ups and downs life brings our way. Financial independence starts with living within your means, working hard and saving for a rainy day.

A lot of articles and social media are saying that the current generation has never had it so hard, but don’t believe it! First of all, whether you go back to the reasons that caused people to seek a better life here, what Indigenous peoples have been through, the World Wars or The Great Depression, there have been many seriously tough times. There have also been other highly inflationary periods where interest rates went up much more than what we’re seeing today and many people lost their homes and businesses. Alberta in particular has been through a lot of booms and busts.

To save enough to buy, maintain and keep a home, even among Edmonton’s stock of post-war bungalows, has always been a challenge.  It has always felt like a great accomplishment with a little bit of luck, no matter the stage of life or modest size of home. I guess this helps also understand why people care so much about their homes and communities, because they have invested a lot of their lives to have a space to call their own.

Second, if you start to let yourself feel like a victim in these challenging times rather than as someone who has agency (ie to consider how you will respond in a situation and work toward a solution), then you really will be sunk. 

Some of the most important skills to get through these times and be resilient are to stay curious, practice critical thinking and hold your friends and loved ones close. Remember, you come from a place that has had great ingenuity and a tradition of hard work to innovate, compete in the world and bring prosperity for its peoples.

Because I, and communities across Edmonton, care about you and your future, I’m hoping it will be ok with you if I write you a little note about this from time to time, to start a genuine conversation.

In Alberta, as much as we are about individual liberty and success, we always pull together and make it through. We have such deep roots in democracy, free market economy, citizen engagement - and community - looking out for one another.

There is a lot to unpack on the topic of housing and affordability in turbulent times. It would be nice to explore some of it together.

I would love to hear your thoughts. I look forward to having some great discussions in the weeks ahead. More soon,

Love,

Mom