A Fresh Start: Goals, Home Moves, and Economic Insights for the New Year
Happy New Year! January always brings a sense of possibility — a chance to reset, refocus, and look ahead. Whether you’re thinking about personal growth, planning a major move, or keeping an eye on the economic landscape, there’s plenty to consider as we kick off the year.
Let’s dive in.
Rethinking New Year’s Resolutions: Try a Vision Board Instead
Looking to do some self-improvement this year? Don’t call it a resolution — those are out. Instead, consider creating a vision board or even a goal bingo card.
These tools offer a more visual and motivating way to represent what you want to accomplish. Breaking big goals into smaller, achievable wins creates momentum — and let’s be honest, it’s incredibly satisfying to check something off. They’re also great conversation starters when friends and family visit, and they make for fun, shareable social media content (#trending).
A simple 5×5 grid can hold 25 mini goals for the year. Fill it with images or words representing foods you want to try, places you want to visit, activities, hobbies, or personal milestones. Each “dab” off the board is a reminder that progress doesn’t have to be all-or-nothing 😜.
Still feeling unsure? A quick scroll through social media will give you thousands of examples and plenty of inspiration.
Here to There: Understanding the Bridge Loan Strategy
When it comes to buying and selling a home, timing is everything — or is it?
In an ideal world, you sell your current home and buy your next one on the same day. But in reality, finding your dream home can take weeks or months, all while you’re prepping your existing home for sale, hosting viewings, and waiting for the right offer.
So what happens when the dates don’t line up?
Enter the Bridge Loan
A bridge loan is exactly what it sounds like — a temporary financial bridge between your current home and your future one. It fills the financing gap when you can’t (or don’t want to) carry two mortgages for an extended period.
When a Bridge Loan Makes Sense
A bridge loan can be a great solution if:
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You want to move gradually rather than all in one day
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Your new home purchase closes before your existing home sale
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You plan to renovate before moving in
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You need extra time to clean or empty your current home
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The market is hot and you don’t want to miss the perfect property
The Catch: What You Need to Know
Like any financial tool, bridge loans come with conditions:
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They are short-term loans, typically lasting 1–90 days
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You must have a firm sale agreement on your existing home
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You’ll be required to make payments on both mortgages during the overlap
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A realtor and lawyer are required to complete the transaction
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You’ll need cash on hand to cover realtor fees, legal costs, and any mortgage penalties, separate from the bridge loan
Pros and Cons at a Glance
The pros:
Bridge loans offer flexibility. You can buy when you find the right home instead of settling due to timing constraints. You can also use the equity in your current home rather than needing a full down payment for the new one.
The cons:
Interest rates are higher than standard mortgages, and breaking an existing mortgage may come with penalties. You’ll also need sufficient liquidity to manage closing costs and may need to exhaust other credit sources first, such as a line of credit.
Bridge Loans for Land
Some lenders also offer bridge financing for land purchases. This can be helpful if you haven’t secured construction financing yet or are unsure of your immediate plans. These loans typically involve additional considerations, including borrower net worth and land location.
Next Steps
Curious about costs, eligibility, or whether a bridge loan fits your situation? Reach out anytime. Running the numbers and exploring your options costs nothing — and it can make a world of difference in your home-buying strategy.
Economic Insights: The Future of CUSMA / USMCA
Trade policy is also top of mind this year, particularly with renewed discussion around the Canada–U.S.–Mexico Agreement (CUSMA / USMCA).
Can the U.S. Exit the Agreement Unilaterally?
Under Article 34.6 of the treaty, any party may withdraw by providing written notice, with withdrawal taking effect six months later. While this is straightforward under international law, it’s less clear under U.S. domestic law whether a president can withdraw without Congressional approval — a question that would likely end up in court.
If the U.S. were to exit, the agreement would remain in force between Canada and Mexico.
What Would Withdrawal Mean for Trade?
A U.S. withdrawal would likely push trade back to WTO most-favoured-nation (MFN) rules, resulting in higher tariffs, more red tape, and significant disruption to integrated North American supply chains.
Industries like autos, agriculture, energy, and manufacturing would be hit hardest. Canadian modelling suggests a potential GDP loss in the range of 0.25%, alongside reduced investment and increased uncertainty.
Canada and Mexico would almost certainly retaliate with targeted tariffs, while also accelerating efforts to diversify trade toward Europe and the Indo-Pacific — though replacing U.S. demand remains extremely difficult.
Where Things Stand Now
Some analysts believe the U.S. may be pushing toward separate bilateral deals with Canada and Mexico instead of a trilateral agreement. This uncertainty is already weighing on Canadian consumer and business confidence.
Notably, the U.S. Chamber of Commerce strongly supports CUSMA, as Canada is the top export destination for 32 U.S. states.
All three countries must indicate by July 1 next year whether they plan to extend, renegotiate, or let the agreement expire.
Bottom Line
CUSMA continues to protect most Canadian exports from tariffs, though steel, aluminum, and some automotive and manufactured goods still face significant levies. Trade tensions remain unresolved, adding another layer of uncertainty to the economic outlook.
Wrapping Up January
January can feel long and dark — but it’s not without its bright spots. From Bubble Bath Day (Jan 8) to Winnie-the-Pooh Day (Jan 18) and National Cheesy Socks Day (Jan 21), there’s always something small to look forward to.
Best of luck with whatever goals — or vision boards — you’ve set for yourself this year. I’ll see you back here in February.