OK, Miami was a blast!
About ten of us went down to the Bitcoin 2022 conference last week and it was incredible.
That's myself, Nick and Anthony in front of the Bitcoin bull.
At the conference, we finally got to meet some people in-person that we've been chatting with for years!
I met Jeff Booth and BTC Sessions and Robert Breedlove and Anthony ran into the one and only...Lyn Alden!
Many have been asking us what the "biggest takeaway" from the conference was. Here it is:
Bitcoin's too big to stop at this point. It's clear to me that with the amount of technical expertise (aka, developers) I listened to at the conference that there is an incredible amount of development happening. The U.S. and/or Canada can choose to tax it, regulate it etc. etc. but they're not going to be able to stop it...that's my two cents.
Nick actually went down a few days earlier to start looking into Florida's property scene. We'll keep you posted on any moves we make down there. I'm scheduled to go down again in a little bit...we'll see if anything comes from these visits.
We also hit a Leafs game while down there...the 6-5 Panthers vs. Leafs game that was a barn burner. We lost in overtime but it was an epic battle of two teams who forgot how to play defence, LOL!
Up here in Canada our central banking planners decided to raise rates 0.5% this week.
This is the rate that changes most variable rate mortgages. Fixed rate mortgages are set by the bond market.
We can tell you that not only have sales slowed down, but even showings of properties have dropped very dramatically.
Will this be a 2017 moment? Or a larger decrease like 1990?
Or will the Ontario housing market shrug it off and keep marching forward?
Today, we recorded a few thoughts on what's going on.
It's important, in our opinion, to keep the big picture in mind right now. It's the media's job to sell clicks and run with fear-based headlines.
So we can expect any bad real estate news to be amplified greatly over the next few weeks and months.
You can watch this week's Rock Star Minutes on this here.
This topic always gets people's juices flowing.
It's important to do your own research, make your own decisions.
Don't trust our thoughts on this matter, don't trust your neighbour's thoughts and definitely do not trust the central bankers', LOL!
Gather research, learn and build your own framework to draw conclusions from.
Real estate is a long game. It has many twists and turns.
At this very moment everyone is waiting for a shoe to drop, let's see what happens. Stay nimble with your thinking.
This economic environment is one of the most challenging we've ever seen to try and forecast. No one can do it and anyone who tells you that they know what happens next...definitely does not.
And with those happy words, that's it for this week!
Thanks for listening to the podcast, thanks for watching our Rock Star Minutes, and thanks for being you! Keep going.
Living life on your own terms is possible. Never doubt that.
If two brothers from Mississauga who went to Philip Pocock High School can do it then you definitely can too!!
Tom & Nick