Today I was very fortunate to listen to a talk given by Mike Linehan the RBC National Head of Mortgage Specialists.
I’m not a financial guru and to tell the truth when I heard that the talk was going to be about financial stuff, well snore!!
BUT if I ever have a chance to hear this fellow again, I will jump over small plants to hear him speak (I’m short, so I can’t jump too high).
He made financial stuff interesting and talked to us in a very down to earth manner, plus he had some fun stories to tell also.
Some stats that I took note of:
Canadians owe $1.65 for every $1 they earn. Ouch!
Our unemployment rate is 5.5% in Saskatchewan.
We are in a recovery mode in this province – just a few years ago we had 10,000 new builds in one year, now we have seen only 5100 new builds, then 5600, then 6500 – so we are heading back up.
Toronto has about 6 million people and a shortage of listings.
In Vancouver they are building 365 sq ft units/houses. Yikes.
In Saskatchewan, our homes are still affordable, the market has softened but not spiraled.
Saskatchewan is resiliant/stable.
Mike said that Maritimers like to say that they are the friendliest Canadians, but he leans towards Saskatchewanians. For example, Mike and his wife have 4 daughters and like most kids, one of them phoned him up and only gave him 24 hours notice to get a truck and come help her move from BC to Winnipeg. So being the great dad he is, he got the truck, packed up his daughter and her stuff and they were soon on their way to Winnipeg. (I remember a funny commercial about “going to Winnipeg”). Anyways they left Saskatoon and I’m sure Mike had a lot of things on his mind, but filling up with gas wasn’t one of those things. So they luckily coasted in on fumes into Allan, Saskatchewan on a Sunday morning. Well, as Mike said, “what’s closed on a Sunday in Allan, Saskatchewan? Everything!”
So there they were, in the parking lot of the Coop store/gas pumps and his daughter was having a meltdown because she had to be at her destination and working the very next morning and now they would have to wait 4 hours before the place opened, if it opened at all! Oh the stress!
Well as Mike paced around the parking lot, a farmer came by in his tractor and asked what was wrong. Mike explained the situation and what else would you expect from a person in Saskatchewan? The farmer pulled out his card for the gas cardlock and filled up their vehicle with gas. And it took a full 10 minutes for Mike to convince this kind gentleman to accept the money for the gas. Now THAT is what we in Saskatchewan are made of!
Getting back to the work stuff – We have to work harder for the money than before. The money is there. And aren’t Saskatchewan people known for being hard workers? That’s how my parents brought me up.
Did you know that the Royal Bank is the largest bank in Canada and rated the most trustworthy. No surprises there.
Because the guests at this luncheon were realtors and builders, Mike explained that “we’re alone together.” He and the Royal Bank understand that we get up unemployed every day.
The Royal Bank knows that happy employees provide great customer service.
We are in an era with fin tech meaning financial technology. There is disruption when we change things. And unfortunately sometimes human beings are replaced by machines. That is a fact and he stated that if organizations want to increase their technology and put people unemployed, then they should pay more taxes.
Did you know that 1/3 of Saskatchewan people are Royal Bank clients? And people tend to move every 3 years?
Is this a push for the Royal Bank? Not necessarily. But I am treated so well by Royal Bank people and their customers are treated so well, then why wouldn’t you want to deal with them? Thanks Royal Bank people!
That’s Pauline’s Profound Points to Ponder on Pi Day.