Richard Crenian Blogs
January 19, 2009
“On Being Responsible!”
It’s amazing being in Toronto. We had the “recessionary feel” in August 08, and the stores went nuts with their 70 per cent off items in November and everyone thought that the world was going to come to an end.
The doom and gloom in Toronto was felt by everyone since we are exposed to the financial malaise of Bay Street and all its effects. The Bay Streeters were losing their jobs, commissions were now halved and how were they going to keep making their payments when their million dollar salaries were now only $500,000.00.
Surely the world was going to end.
How do you afford two million plus houses, multiple leased cars, kids in private schools and two or more nannies?
Then there were the exotic vacations and the shopping sprees that they had to consider.
The world as we knew it in November was at the end and the Toronto that we knew was over and done with.
What happened since then? Yes house prices are off, the sales have stopped and reality has set in. So no more exotic vacations and endless shopping sprees, and that’s OK.
So you have to return a car or two and the extra nanny has gone. You have negotiated with the bank to reduce your house payment and the credit cards are not being used anymore. That is being responsible, and because of that we have survived, and will continue to do so.
Ahh, there is the rub. Toronto has become more responsible and since January the 1st you can feel the doom lifted and actually see the sun peeking through. Are we out of it yet? Probably not, but we have become more responsible and enjoying our lives and the quality it produces much more.
Perhaps the next boom will teach us all how to remain sane after all.