I wasn’t going to publish anything else before the end of the year. I had provided my list of things that had been confusing to me (and, perhaps others) in the real estate and personal finance space. When I hit the “publish” button, it felt like I was done.
But, there’s so much more to say about this year. Thomas Friedman, in his excellent final column this year, argues that we’ll one day look back at 2023 and realize we were fighting two world wars: Russia v. Ukraine and Israel v. Gaza. Wars that aren’t just about arms on a battlefield, but digital arms as well.
I think that idea alone is stomach churning. But there are other wars we’re fighting as well.
Climate Change
It’s the end of December in Chicago and it’s raining. Again. We’ve had a week of rainy weather. Thirty years ago, we’d have had 20 inches of snow on the ground, and it would be nearly zero degrees.
That was when Chicago winters were something to be feared. It hasn’t been like that in a long, long time.
I was having breakfast with a friend the other morning who spends half his year in Maine. His daughter is complaining because she likes snowshoeing and all they’re getting is rain. In Maine. In December.
“We don’t get much snow up there anymore. Not like when I moved there 15 years ago,” he said. Yeah, we don’t either. These days, Chicago’s winter weather is more similar to Philadelphia’s weather 20 years ago.
Each year, the news announces it’s the hottest year on record. The hottest decade in 200 years. New weather records have been broken all around the globe this year. Including Chicago.
Don’t get me wrong. Personally, I’d rather have rain than snow. I’d rather not put on every coat I own just to walk from the car to the mall.
But deep down, it feels wrong.
I know we’re fighting a climate war we probably can’t win. And, I’m worried what that means for my kids, your kids, and any eventual children and grandchildren they might have. Maybe the shrinking population (see below) will help - if it’s not already too late
An Affordability Crisis
Wendy Snyder, filling in for Lisa Dent on WGN Radio on Friday afternoon, asked me why so many people feel like there’s a recession, even though our economy has remained strong.
I told her there’s always a difference between generalized economic numbers and how we feel about our own money. And, a lot of that comes down to personal choices: What we spend, save, and give.
If you spend more than you make, you’re going to feel broke.
If you’re putting groceries and gas on your credit card and then carrying the balance forward (at 21% or more), that’s a negative spending loop.
If you’re trying to buy a house or a car and can’t qualify for a mortgage or auto loan, you’re going to feel as though you can’t get ahead.
When it comes to housing, we do have an affordability crisis - and a serious one. Many people can’t afford to buy their first homes due to higher interest rates and sky high home prices. Some people are giving up. They tell researchers that they’ll just rent forever (which is also getting much more expensive). Somewhere else.
That’s not a Best Money Move. I believe the younger you are when you buy your first home, the richer you’ll be later in life. There’s the enforced savings with every mortgage payment, the locking in of your housing payment as your income (hopefully rises), and the changes in spending behavior that come with homeownership.
There’s no doubt its tough to buy a home. But, it always was. When I bought my first home in 1989, the interest rate on our loan was 11 3/4 percent. You’ve got to keep at it. Keep saving. Make tradeoffs in terms of what you want/need. Find a way to make it work.
The War on Kindness
I don’t know where everyone got the idea that it was okay to say whatever is on your mind, whenever the mood strikes. A lot of what comes out are expletives. Said in anger. At a rising pitch.
Our political discourse is concerning. How we point fingers, call names or lash out rather than making a well-reasoned point. And it seems to get worse every year.
I find myself wondering: Will there be no room left in this world for kindness to strangers?
I think we lose so much if we lose the ability to be kind. Even if everyone else seems to have lost it.
Thoughts?
Most Interesting Thing I read This Year
Earth’s demographers say our planet’s population will peak at around 10 billion before the end of the century. And, then, the population will drop off dramatically.
Maybe down to just 200 million people.
This blew my mind. What do you think?
Loves lost and remembered
In early December, I lost my mom. In October, we lost another cousin. This week, we almost lost a third.
In a year of wins and losses, losing my mom had the most impact. She was warm, wonderful and witty. It’s a huge loss, one shared by her family, friends and clients (she was a real estate agent in Chicago for nearly 40 years).
Although I’m concerned about a war on kindness, the outpouring of kindnesses since my mom’s death makes me feel hopeful that many of us haven’t forgotten how much a kind word or gesture means.
To everyone who wrote, called, stopped by, or sent a donation to one of her favorite charities (or their own), thank you. I’m just starting to chip away at the pile of thank yous I need to write.
Goodbye 2023. Hello 2024
It’s been quite a year. And now, it’s time to pack away 2023 and get ready start 2024.
So, I’m going to take the rest of the weekend to relax, get some sleep, clean out a closet or two, and toast the people I love best in this world. I hope you’ll do the same.
Thank you for reading this newsletter. Watch for some fun surprises next year.
So very sorry to hear of your mom’s passing. You were so lucky to have been gifted a wonderful mom. Not all of us were that lucky. U know that she will be with you in your heart & soul … forever. She is so proud of you; & so am I. Thank you so much for sharing your love & knowledge. Have a Happy, Healthy& Joyous New Year🤗
don't say a word. The same with religion, it just isn't worth my time to get mixed-up in finger pointing and name calling. When did we loost the respect for other people's views?