Ep.002: Millennial Housing Crisis - Is a home worth it?

Summary

In this episode of the Millennial Money Canada podcast, hosts Guillaume Girard and Sam Lichtman discuss the evolving landscape of financial planning and real estate investment from the perspective of millennials. 

They share insights on their business journey with Millen Wealth Advisors, the challenges millennials face in the current real estate market, and the importance of financial literacy. The conversation highlights the disparity between income growth and rising real estate prices and the necessity for millennials to adapt their wealth-building strategies. In this conversation, Guillaume Girard and Sam Lichtman explore the complexities of homeownership versus renting, emphasizing both financial and non-financial aspects. 

They discuss the true costs associated with owning a home, the value of real estate, and the potential for wealth building through different asset classes. The conversation also highlights various tools available for first-time homebuyers in Canada, ultimately encouraging listeners to consider their personal preferences and financial situations when making housing decisions.

 

Chapters

00:00 Introduction to Millennial Money Canada Podcast

01:00 Business Overview of Millen Wealth Advisors

10:14 The Evolution of Financial Planning

17:55 Transitioning to Real Estate Discussion

18:23 Traditional Views on Real Estate

20:43 Current Real Estate Market Analysis

24:55 Income Disparity and Real Estate Affordability

27:43 Personal Perspectives on Real Estate Investment

28:12 The Non-Financial Aspects of Homeownership

31:08 Understanding Real Estate Value: Land vs. Building

34:36 The True Costs of Homeownership

37:48 Real Estate vs. Stock Market: A Wealth Comparison

50:25 Tools for First-Time Homebuyers

54:53 Key Takeaways and Closing Remarks

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🔗 Connect & Follow Us for Insights
Podcast YouTube Channel: Millennial Money Canada Podcast
TikTok: Millennial Money Canada
Instagram: @financialplannergui
Guillaume on LinkedIn: Guillaume Girard, CFA, CMT, CFP
Sam on LinkedIn: Sam Lichtman

 

🌱Facebook Group

Entrepreneurs for Financial Independence: https://www.facebook.com/share/g/18CPZG62qA/

 

Keywords

Navigating Real Estate as Millennials

The Millennial Money Journey

Understanding Real Estate Investment Today

Financial Planning for the Next Generation

The Real Estate Dilemma for Millennials