👋 Hey there and happy 4th of July to my followers in the USA 🇺🇸! Welcome to the WalletBurst monthly newsletter for the month of June 2023.
⏰ The Price of Time
What is the price of time? The answer is simple: interest.
I recently listened to an audiobook of The Price of Time by Edward Chancellor and found his deep dive into interest rates to be really fascinating.
I highly recommend this podcast with the author which is a distilled version of the book and covers a few of his key themes including:
- The history of interest in human societies, which is actually older than money itself.
- Why zero percent interest rates go against our human nature.
- How low interest rates have fueled the largest asset bubble in human history.
🏠 US Housing is a dead man walking by Seeking Alpha
- Buying a house in the USA, when adjusted for inflation and mortgage rates, is the most expensive in four decades.
- How did we get to having the most expensive housing market in US history?
- What are they key factors that will influence the housing market going forward?
🤑 15 Years to Financial Independence by Rational Walk
- Scenario showing how a young 25 year old couple starting with zero net worth could reach FIRE by the age of 40.
- Key takeaway is to harness the virtuous cycle of limiting consumption, saving an unusually high percentage of income, and then investing one’s savings in the stock market.
- Doing this will almost inevitably result in financial independence due to the power of compounding over long periods of time.
😬 Canadian real estate prices vs income on r/FluentInFinance
- The rental market hit a big milestone this month, with national rent growth finally becoming flat year-over-year after nearly a year of slowdown in the rental market.
- On average across the nation, apartments today are renting for the same price they did one year ago.
New on WalletBurst.com
Nothing new this month…
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Have a great day,