[caption id="attachment_1352" align="alignright" width="300"] Image Source: Mark Teasdale[/caption]
The American Dream has now become the Canadian Dream. The desire to fulfill this dream is likely to bolster the Canadian economy, while enhancing the quality of life north of the border.
The American Canadian Dream
Coverage by The Globe and Mail as well as the New York Times on May 15th, 2014, declares the end of the American Dream, and details why the new dream is waving a Maple leaf logo.
One Globe columnist defines the Canadian Dream as "the quest for affluence and the opportunity to conquer issues such as social class." This new "dream" is actually an ideal, which encapsulates home ownership, lifestyle, upward mobility, and freedom.
This isn't about looking for handouts. In fact, it's quite the opposite. Those in search of this dream are known for their work ethic, utilize business starts, and invest in real estate to achieve it.
Of course, Canada didn't steal the American Dream, it is just offering the conditions and opportunities which provide a catalytic eco-system for obtaining and holding onto it.
Canada Claims World Leading Economic Performance
South of the border, the sentiment is that the current government administration is distinctly anti-small business. Americans earning less than the median income of around $40,000 are given little incentive to work. Once they breach this income level, they must replace all of the government provided help with extra hours on the job, resulting in increased taxes due. Those that can't afford mandatory health care insurance are fined. It shouldn't require the deductive talents of Sherlock Holmes to figure out why recent figures show the U.S. economy as being flat, with 0.5% GDP growth.
In contrast, The Globe and Mail reports Canadians receive essentially free health care, live longer on average, and work an average of 4.6% less. Now, even the Canadian middle class rank among the world's richest.
As a result, the Conference Board puts Canada's three oil rich provinces on top of the world in terms of economic performance.
The Call of the Canadian Dream
The lure of the Canadian Dream is beckoning innovation, top global talent, entrepreneurial spirit, and those with strong work ethic.
This is evidenced in the latest Canadian Real Estate Association statistics which show Canadian home sales rising the most in almost a year in April 2014. Even cities which were previous anticipated to experience a decline, such as Vancouver, actually saw transaction activity up 14%.
Alberta received top grades in the most recent economic reports from Statistics Canada, thanks to manufacturing sales and strong resource driven backbones. This in turn continues to act as a magnet for international (especially U.S.) retailers looking to capitalize on the wealth and income boom north of the border.
As the word spreads, more people are expected to come to Canada, and specifically to Alberta, in search of the Canadian Dream. They'll buy homes, relieve labor shortages, start businesses, move existing companies here, and invest large amounts of capital in local investments.
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