Here we go (again).
Remember Pin the Tail on the Donkey? That timeless classic where a child is blindfolded, gently spun around a few times and then told to find the donkey and put a pin in it.
How about the waterslide park where the waterslide changes to an opaque black tube, hurling you through the twists and turns in darkness, with only the curved tube and a bit of water allowing it to be fun.
Last one. How about in the dead of a Canadian winter when you’re driving on one of those long, straight roads or highways, and suddenly, the snow picks up, blowing sideways and completely obscuring your awareness of where the road—let alone the lane—was?
That feeling of knowing where you are and then suddenly thinking “Wait, where am I going?” can elicit any number of emotions, depending on the context in which it took place.
While waterslides and donkey searches can be fun, whiteouts at speed can be quite the opposite.
So, here we are in March 2025, as Canada and much of the world are being blindfold and sent down a blacked-out waterslide, all under the guise that we have somehow earned the medicine we’re taking. We can leave the confounding politician and his illogical concept of politics to the side; however, the uncertainty and hands-out-in-front, “Where-am-I-going?” sensation is pervasive.
When the pathway is well-lit and clear, we are comfortable moving forward. After all, if I can see where I’m trying to get to, the journey becomes all the simpler. Where we stumble and trip is when obstacles—or even a bit of fog—are added to the equation.
That could include the mortgage rule changes in 2017, that slowed sales down dramatically in the following few years. The Bank of Canada rate cuts in 2020 jolted the market to new heights as mortgage rates hit basement-bottom levels, with the opposite effect happening in 2022 and 2023.
As we approached the end of 2024, the overall market sentiment was well-adjusted and showing signs of coming back to life. Whether it was the real estate market showing improved sales trends or Canada’s GDP rising by 2.6%—which was well above expectations according to Reuters (source: Globe & Mail, “GDP Growth Beats Estimates”)—there were signs of an improvement in the climate.
The notable thing about those events was that they could be looked at and rationalized. While they may have been for better or for worse, we could look at them and plan around them.
Now, as we collectively trudge into the fog of this trade war, we feel the blindfold being placed over our heads again. Those far smarter than yours truly use words like recession, layoffs, shutdowns, retaliatory tariffs, input costs, trade dependence, and throw around dollar amounts that are hard to fathom. For example, nearly $400 million worth of goods heads to our southerly neighbour via the Windsor-Detroit bridge every single day.
Drilled down to the individual, we wonder and worry. How will this impact me? Will my job or financial security be affected? Will groceries go up yet again?
Sure, some products will increase in price, but will other companies that are not directly impacted raise their prices anyway because they feel they can get away with it?
Trying to plan and protect yourself while walking through the darkness adds another layer stress. If we aren’t even sure where to direct our defenses, we end up flailing and running ourselves into the ground.
So, what do we do about it?
A few thoughts.
- Get serious about self-care and monitoring our own personal mental state. Overindulging in stressors (doomscrolling?) that we have no control over will lead to nothing positive.
- Deep breaths. When we read, watch or contemplate, take in the info, breathe deep, and then keep moving, lest you get consumed in the negative quicksand.
- The weight of the absurdity of ‘his’ initiatives can’t last for long-term. At some point, the insanity will collapse under its own weight. Whether it’s internal political or economic pressure, or the short lifespan of the mayhem-by-design approach, this isn’t going to be a permanent state of affairs.
- While it may not feel like it, this is going to impact different people differently. That said, we are a national community, and in challenging times, communities rally around each other.
- If a move is on the radar in 2025, stay informed on the reality of what is happening. Connect with professionals who have the latest and most accurate insights related to market conditions, the mortgage landscape and more.
There is no doubt that there will be university courses designed to study these crazy days we’re all tiptoeing through. All we can do is take things one day at a time and make prudent steps forward.
One thing I know for sure, though, is we will get through this and come out stronger than before. Let’s support each other and be the best version of ourselves.