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The pandemic opened the door to what could be the most effective way young home buyers could deal with sky-high house prices. Move to a cheaper city or town.

Small communities outside expensive big cities have seen an influx of big buyers seeking affordable homes, and so have towns in more far-flung places. In Season Three of our Stress Test personal finance podcast for millennials and young adults, we took an in-depth look at this topic.

Now, we want to look at how life has changed in the small towns that have attracted buyers from big cities.

We want to hear from residents of smaller communities about what it’s like to be “discovered.” How has housing affordability changed for long-time residents, and what are the pluses and minuses of having new residents? How are the new arrivals settling in? Overall, has your community changed for the better or worse? Perhaps a bit of both?

If you’d like to share your story, contact Globe and Mail personal finance editor Roma Luciw at rluciw@globeandmail.com. Roma, our production team and I recently started work on Season Four of Stress Test and we plan to release the first episode in November.

Stress Test’s first three seasons have covered housing extensively, plus the cost of raising kids, moving back in with your parents, negotiating a raise and much more. Stress Test just won an award for audio for visual story telling from the Canadian arm of the Society of American Business Editors and Writers (SABEW).


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Rob’s personal finance reading list

Five kitchen fails

Real estate agents on pitfalls in kitchen layouts. Apparently, kitchens can be too big and too on-trend.

The horrors of being a landlord

A new blog called Cananomics on some (very) negative experiences as a landlord. Worth a read if you’re hunting for income properties.

Heating costs expected to heat up this winter

More inflation for your household to deal with. Natural gas prices have been rising and monthly heating bills for homes heated with this fuel are expected to follow.

The Die With Zero school of financial planning

All about the concept of consumption smoothing, which means balancing spending and saving in a way that doesn’t save your best moments in life for when you’re retired.


Ask Rob

Q: In light of the recent federal election, has there been any talk by the Liberals of reducing the capital gains exemption from 50 per cent down to 25 per cent. My financial adviser is suggesting I sell some investments to realize that exemption now.

A: No, there has not. The background: for several years now, there’s been talk that the Liberal government would change the current 50 per cent inclusion rate on capital gains. This means that only half the profit you realize when you sell an asset for more than you paid is subject to tax. There has been talk in the financial community that the Liberals would tax 75 per cent of the gain, but this remains speculation. I suggest you and your adviser discuss whether selling some investments serves the greater good of your portfolio.

Do you have a question for me? Send it my way. Sorry I can't answer every one personally. Questions and answers are edited for length and clarity.


Today’s financial tool

Cashflow$ & Portfolios is the name of a website built to help people learn how to reach their long-term financial goals with budget and long-term investing. Brought to you by a pair of veteran personal finance bloggers.


The money-free zone

The great Doug Tuttle, ladies and gentlemen. Master of a mellow guitar sound that produced gems like Falling to Believe.


In case you missed these Globe and Mail personal finance-related stories

More Rob Carrick and money coverage

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