KeatsConnelly Cross-Border Weekly Best of the Web 2015-5-15

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week’s articles include a cautionary tale on Canada’s increasing reliance on debt and its parallels to the United States a decade ago, a deep dive into the April US jobs report and an interesting piece on the fallacy of believing one’s generation has had a particularly difficult financial road to travel.

In deep: The high risks of Canada’s growing addiction to debt (www.theglobeandmail.com) – Growing up in subsidized rental housing in Victoria, Lee Robbins always dreamed he would own a house by the age of 30. He reached that goal two years ago when he and wife Cara bought their dream home: a 1960s three-bedroom, two-storey house within biking distance of his workplace. Like many people in their 20s and 30s buying real estate in costly cities, they had to stretch financially. Closing costs and other fees cut into a modest profit from the sale of their condo, so Mr. Robbins took $12,000 from his line of credit to put together the minimum 5-per-cent down payment, leaving the couple with a $438,900 home – and $430,000 in debt…

The April Jobs Report in 13 Charts (http://www.wsj.com/) – The U.S. economy added 223,000 jobs in April, and a separate survey showed that the unemployment rate fell to 5.4%, near a seven-year low. Of course, the jobs report contains far more than these headline figures, and these charts show how Friday’s report from the Labor Department illustrates the broader state of the economic expansion. Unemployment is falling steadily across a range of measures…

Cheer up: Every generation has its own tale of financial woe (http://www.theglobeandmail.com/) – Just between us, your generation has had it tough, hasn’t it? Many people think so. I was reminded of this after I scoffed in print at the need for increased contribution limits to tax-free savings accounts. A senior citizen slammed me for ingratitude. “Those lucky enough to be working with all the RRSP advantages that we never had are just mean to begrudge us old folks that little bit of comfort,” the reader told me. Maybe so, but every generation has its own tale of woe…

Come back next week for more interesting news and articles. Enjoy your weekend!

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