Crisis? What crisis? Most Canadians upbeat heading into 2009: Poll
Terry Pedwell, THE CANADIAN PRESS
December 28, 2008
OTTAWA - A new poll suggests a significant majority of Canadians remain optimistic as they look ahead to 2009 - notwithstanding all the gloomy talk about a looming recession.
The Canadian Press Harris-Decima survey found that 58 per cent of respondents were upbeat about the coming year, and only 21 per cent were pessimistic. Another 20 per cent said their outlook was neither optimistic nor pessimistic.
QUOTE (C2Ventures @ Dec 31 2008, 12:31 PM) Crisis? What crisis? Most Canadians upbeat heading into 2009: Poll
The Canadian Press Harris-Decima survey found that 58 per cent of respondents were upbeat about the coming year, and only 21 per cent were pessimistic. Another 20 per cent said their outlook was neither optimistic nor pessimistic.
http://finance.sympatico.msn.ca/investing/...mentid=16346307 This is taken from the article:
"Ironically, the poll found less cheer among the wealthiest respondents - those earning a family income of more than $100,000 a year - than among those earning less than $60,000.
In the lower income bracket, fully 61 per cent said they`re looking forward to 2009. That compares to 54 per cent among high-end earners.
Losses on the stock market, or from retirement savings, may have impacted higher-income earners more.
Fewer than one third of overall respondents said their net worth had declined in 2008, while 42 per cent with household incomes above $100,000 said their investments had dropped in value.
Ontario and British Columbia residents were more likely to respond that their net worths had plummeted.
Stock markets were expected to close out 2008 with a lot of red ink."
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I interpret that poll to roughly say that: "Hey, if you don`t have any assets you did alright, because you had nothing to lose. If you do own assets be it stocks or property, you were hit."
Which class can you most relate to?
Even the folks that don`t own assets and rent are affected by job losses directly or indirectly. An example of indirect job loss is that a company cuts back (lays off) workers and those workers leave town or ask for rental reductions.
You still have your job, but start to feel pessimistic and worry. You see rents going down; you then ask for your rents to be reduced or move to a cheaper property. (One where the would-be investor/home seller has slashed his rents down to get anyone in to cover his mortgage)
I`m not a doom and gloomer, but things are rough out there. Anyone who owns paper assets will tell you that. For folks that own RE, they will experience rental decreases if they are looking for tenants now in Edmonton and other areas. Values have gone down - but unless you`re selling, that won`t be such a big factor at the moment.
I`m optimistic about the economy, but I think too much Pollyannaing is naive. Like Garth`s posts, now is the time to streamline your business and reduce costs. Spend the saved portion on ways to improve and grow your company. Hope for the best, plan for the worst.
