Over time I have tried to look at the overall picture of a consumer driven society. Personally I almost feel like easy credit has extracted too much of a price. Yet at the same time has been a requirement to enable the system we have to survive. The cost may just have been too high but that is a partial unknown at this time.

Our son in law has just started a new job as director of operations for a major if not the largest Canadian oil company. Where they have to relocate the housing is very expensive. My guess is that they might be able to have a new house built in the area for much less cost than the inflated valuations of that area and will mention this to them.

Buying something at that location based on their current income and the local valuations may not be the best solution. Especially if the job does not work out over the years. My feeling is that if you can build for less it makes sense to do so. It has worked for us over the years and I feel in some cases there is no reason it cannot work for others even today.

What is really troubling me is that the current property valuations there are based on possible future events rather than today. If they do not occur what will property valuations slump to? Is far too easy historically low interest credit also allowing the current valuations to skyrocket?

Many things I see out there are making me think about them from time to time. I know at the same time what I see is a requirement of a consumer driven society. But at the same time is the continuance of what is todays policies going to be the same over the longer haul? I suspect more or less it will be. At the same time there are no guarantees of that at all.