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Georgia Southern achieves record enrollment post-consolidation
Georgia Southern University has set several enrollment records according to official Fall 2024 enrollment data, verified by the University System of Georgia. The University continues to experience growth across various areas including enrollment on the Armstrong Campus in Savannah, online classes, dual enrollment, and graduate program enrollment, among others. The University’s official Fall 2024 total enrollment is 27,506, a 5.4% increase over Fall 2023, and the highest enrollment the University has recorded post-consolidation. “This record enrollment highlights the strength of our academic programs and the commitment of our faculty and staff to Georgia Southern’s mission of preparing career-ready graduates to meet the talent and workforce needs of a growing region,” said Georgia Southern President Kyle Marrero. Records set this year include: Total number of dual enrolled students (new and returning) – this year there are 1,550 enrolled, an increase of 492 students (46.5%) from last fall. New dual enrolled students – this year there are 1,063 enrolled, an increase of 290 students (37.5%) from last fall. The previous record was 773 in Fall 2023. Total number of graduate students (new and returning) – this year there are 3,888 enrolled, an increase of 135 students (3.6%) from last fall. The previous record was 3,753 in Fall 2023. Honors College students – this year there are 340 beginning freshmen enrolled, up from 302 (12.6%) last fall. Masters degree students – this year there are 2,883 enrolled, an increase of 125 students (4.5%) from last fall. The previous record was 2,758 in Fall 2023. Doctoral students – this year there are 705 enrolled, an increase of 17 students (2.5%) from 2023. The previous record was 688 in 2023. Out-of-state students (new and returning) – this year 3,674 students are enrolled, an increase of 805 students (28.1%) from last fall. The previous record was 2,869 in Fall 2023. International students – this year there are 671 international students enrolled, an increase of 59 students (9.6%) from the previous records in 2016 and 2017. Here’s how some of Georgia Southern’s numbers break out in the last 5 years: “This post-consolidation record enrollment reflects our commitment to expanding access to a Georgia Southern education and underscores the unwavering support we provide our students to help them persist, retain and graduate,” said Executive Vice President for Enrollment, Marketing and Student Success Alejandra C. Sosa Pieroni, Ed.D. If you're interested in learning more about Georgia Southern University and all the amazing things happening on campus then let us help - simply contact Georgia Southern's Director of Communications Jennifer Wise at jwise@georgiasouthern.edu to arrange an interview today.
Drops in the Bank of Canada rate will not solve housing affordability.
Summary: The Bank of Canada’s interest rate cuts won’t resolve Canada’s housing affordability crisis. Factors such as skyrocketing home prices, unaffordable down payments, and stagnant wage growth are other primary challenges to address. A personal example offered by the author shows how the price of her Toronto home surged over 1,000% from 1983 and 2024 while her wages during the same period rose only 142%. While some see this issue as a consequence of Baby Boomers remaining in their homes, it's more nuanced than that. We have systemic barriers in Canada that necessitate targeted policy changes. It’s time to tackle affordability and implement effective solutions. The Bank of Canada met today, to determine interest rates for the last time this year. They announced a drop of .50 basis points. This is part of a broader effort to stimulate economic growth in Canada, which faces challenges, especially a softening labor market and persistent inflation. Why Should You Care? Interest rates determine how affordable our debt will be and what return we can expect on our savings. Since mortgages represent most consumer debt, interest rates directly impact affordable housing costs, making them very newsworthy. However, interest rates only tell part of the story. When the Bank of Canada lowers its rate, it primarily impacts variable-rate mortgages. These are tied directly to the BoC's overnight rate, so a rate cut can reduce the interest costs on these loans. Homeowners with variable rates would likely see a reduction in their payments, with more of their payments going toward principal rather than interest. People without debt and savings (primarily seniors) will see a drop in their investment returns. In contrast, fixed-rate mortgages, which are not directly tied to the BoC's rate, are influenced more by the bond market, particularly the 5-year government bond yield. The current trend in bond yields suggests that fixed mortgage rates could also decrease over time. Let’s pause here and talk about the affordability of houses and how interest rates are not the reason housing is out of reach for most first-time buyers. A walk down memory lane might offer some perspective. I purchased my first home in the fall of 1983 for $63,500 (insert head shake). I was 27 years old, and before you do the math, yes, I am a Baby Boomer. My first serious (so I thought) live-together relationship had just ended, and I was looking for a place to live. I had finished school and had a good full-time job with Bell Canada. A rental would have been preferred, except I had a dog. Someone suggested that I buy a home. I did not know very much about purchasing real estate or homeownership, for that matter. But I was young and willing to learn. I had been working full-time for two and a half years. During my orientation at Bell Canada, my supervisor told me to sign up for their stock option program. She said I would never miss the money or regret signing up for the plan. She was right. When I purchased my home, there was enough money in my stock account for a down payment and closing costs. My interest rate was a terrifying 12.75%, yielding a mortgage payment of just under $670 monthly. The lender deemed this affordable based on my $18,000 annual wage. Life was good. This was in 1983, when the minimum down payment for a home purchase in Canada was typically 10% for most buyers. However, a lower down payment could be possible with mortgage insurance (provided by organizations like Canada Mortgage Housing Corporation (CMHC), which allowed buyers to put down as little as 5%, provided they qualified for insurance. This was commonly available for homes under $150,000, with stricter terms for higher-priced homes. If you had a higher down payment of 25% or more, mortgage insurance wasn't required, and you could avoid extra costs associated with insured mortgages. This was part of broader efforts by the government to make homeownership more accessible, especially amid the high interest rates of the time. So let's do the math. Circa 1983 I first needed to prove that I had saved $3,175 in down payments and $953 in closing costs for $4128. In the 2.5 years I worked at Bell Canada, I saved $4,050 (including Bell Canada’s contribution) in stocks. I also had another $5,000 in my savings account. $9,000 was enough to complete the transaction and leave me with a healthy safety net. Fast forward to 2024 Let’s compare what the same transaction would look like today. Using the annual housing increase cited on the CREA website, the same house would be valued at approximately $700,000 today. Interest rates are much lower today, at 4.24%, yielding a mortgage payment of $3,545. 1. The down payment rules have changed. For the first $500,000, The minimum down payment is 5%. 5% X 500,000=25,0005\% \times 500,000 = 25,0005% X 500,000 = $25,000 2. The minimum down payment for the portion above $500,000 is 10%. 10% X (700,000−500,000) = 20,00010\% \times (700,000 - 500,000) = 20,00010% X (700,000−500,000) = $20,000 3. Total minimum down payment: 25,000+20,000 =4 5,00025,000 + 20,000 = 45,00025,000+20,000 = $45,000 Thus, the minimum down payment for a $700,000 home is $45,000. Here is the comparison: 1983 Scenario 2024 Scenario Variance Purchase Price: $63,500 $700,000 up 1002% Down Payment: $3,175 $45,000 up 1317% Loan Amount: $60,325 $655,000 up 986% Interest Rate: 12.75% 4.24% down 200% Monthly Mortgage Payment: $670 $3,545 up 429% Wage: $18,000 $43,500 up 142% Gross Debt Service Ratio: 44.6% 97.8% up 119% Time to Save for Down payment: 2 years 12.4 years up 520% *Please note that this example does not include mortgage insurance The real problem As you can see, housing was much more affordable for me in 1983 and far from cheap in 2024. During the past 41 years, wages have increased by 142%, yet interest rates have dropped by 200%. But the most significant impact on affordability has been the over 1,000% increase in housing prices. So why is all the focus on interest rates? At the risk of oversimplifying a complicated issue, I believe the media often uses interest rates as a "shiny penny" to capture attention, diverting focus from deeper housing affordability issues. This keeps the spotlight on inflation and monetary policy, aligning with economic agendas while ignoring systemic problems like down payment barriers and the shortage of affordable homes. Indeed, a movement in interest rates often has an immediate and noticeable impact on borrowers' affordability, making it a hot topic for news and policymakers. However, the frequency and consistency of the Bank of Canada meetings on interest rates give the impression that rates are the primary issue, even though they are just one part of a complex system. For example, even if the Bank of Canada dropped interest rates below zero, it would do little to solve today’s homeownership affordability issue. The real problems: 1. Down Payment Challenges: With housing prices skyrocketing, the 5%- 20% down payment required has become insurmountable for many, particularly younger buyers. High rents, stagnant wage growth relative to home prices, and rising living costs make saving nearly impossible. 2. Lack of Affordable Starter Homes: Due to profitability and zoning restrictions, housing developments often prioritize larger, higher-margin homes or luxury condos over affordable single-family starter homes. 3. Misplaced Generational Blame: Blaming Baby Boomers for "holding onto homes" oversimplifies the issue. They are staying put due to limited downsizing options, emotional attachments, or the need for housing stability in retirement, not a desire to thwart younger generations. 4. Political Challenges: Addressing structural issues like zoning reform or incentivizing affordable housing construction requires political will and collaboration, which can be slow and contentious. A broader lens is needed to understand and address the actual barriers to home ownership. Interest drops are merely a band-aid solution that misses the central issue of saving a down payment. The suggestion that we have an intergenerational issue needs to be revised. The fact that Baby Boomers are holding on to their homes should not surprise anyone. However, Real Estate models that predicted copious numbers of Baby Boomers selling their homes to downsize got it wrong. Downsizing was a concept conceived in the 1980s. Unfortunately, it did not account for record-setting home price increases or inflation, leaving it undesirable for today’s seniors. Although this is a complex issue, a few suggested solutions are worth exploring. What can be done? Focus on Policy Innovations: To create housing, increase supply, curb speculative investments, and provide targeted assistance for builders to build modest starter homes. To create rentals, homeowners should also receive income tax incentives to build Accessory Dwelling Units (ADUs). These could be used as affordable rentals or to house caregivers for senior homeowners. Today, The federal government announced a doubling of its Secondary Suite Loan Program, initially unveiled in the April 2024 budget. This is a massive step in the right direction. To create down payments, adopt a policy allowing first-time home buyers to avoid paying tax on their first $250,000 of income. Then, they could use the tax savings as a down payment. Focus on Education and Advocacy: Include a warning that helps consumers understand that withdrawing from RSPs results in a significant loss of compound interest related to withdrawals and how this can harm income during retirement. Encourage early inheritance to create gifted down payments. Normalize the concept by emphasizing the benefits to the giver and the receiver. Educate the public on using financial equity safely and create down payments as an early inheritance for their heirs. This will shift the conversation and initiate an intergenerational transfer of wealth that empowers the next generation to own a home. The Bottom Line While the Bank of Canada interest rate cut may ease some financial strain for homeowners with variable-rate mortgages, it will do little to address the core issue of housing affordability. The media's fixation on interest rates as a "shiny penny" distracts from more profound systemic barriers, such as the inability to save for a down payment and the lack of affordable housing stock. These challenges require targeted policies, structural reforms, and intergenerational collaboration to be tackled effectively. The focus must shift from short-term rate adjustments to long-term solutions that prioritize accessibility and affordability in housing. Without meaningful action, homeownership will remain out of reach for many, perpetuating the cycle of financial inequity across generations. Dont't Retire... Re-Wire! Sue
Humans have long taken inspiration from the natural world. From the indigenous cultures of the world who understand and utilize the properties of plant and animal products, to Leonardo da Vinci’s “flying machine” sketches inspired by his observations of flying birds, humankind has often looked to nature to help solve its problems and drive innovation. With rapid scientific advancements of the 19th and 20th centuries, and the exponential growth of sustainability practices over the last quarter century, the concepts of bio-inspired design and biomimicry have been increasingly pursued across myriad disciplines of study and implementation. Alyssa Stark, PhD, associate professor of biology at Villanova University, is one of the “boots-on-the-ground” researchers in pursuit of nature’s solutions to human problems. She recently took the time to chat with us about these fields, her research interests and the future of biomimicry. Villanova PR: We sometimes hear the terms “bio-inspired design” and “biomimicry” used interchangeably. Are they the same concept? Alyssa Stark: I see those as two different things. Bio-inspired design is when we are looking at an organism and see that it’s doing something that we want to emulate as humans. I work with animals that have unique adhesive properties. I ask questions like: Can we see that? Can we build it? Can we transfer that information, those ideas, those principles – it could be chemistry, physics, biological structure – and make something useful for us? That is also true with biomimicry, but the big difference for me is that we're keeping in mind the sustainability components. The natural world is not polluting. If we're using this biomimicry lens, how do we learn from nature to make products or solve problems in a sustainable way, keeping in mind the specific environment in which we are located? As an example, we wouldn't use a heavy water process if we were in the Arizona desert, instead we should look to our immediate surroundings to solve problems. PR: It seems the work going on in this field really takes a unique level of interdisciplinary collaboration. What types of different professionals are working in biomimicry? AS: It really pulls together biologists, engineers, physicists, chemists, even design artists and businesspeople. I've worked with a lot of different businesses that want to have sustainability in their company at broad levels by using biomimicry. They are not motivated by making a cool product, but realizing it actually saves them money if they think about their whole company in a biomimetic perspective. There are people who work on the social side of biomimicry, helping these companies completely restructure themselves to be more efficient and more time and money sensitive, without ever making a product. But of course, products are a huge part of it, too. And to make that happen, all of those professions, and more, are vital and active in this space. PR: In terms of products, what are some of the most successful examples of biomimetic designs being implemented? AS: A classic one is a building in Africa that doesn't have any air conditioning units because it has a series of vents like a termite mound. Or the bullet train being shaped like a kingfisher’s beak. One scientist found that whales have bumps on their fins, which you might think is not hydrodynamic. But as it turns out, it actually cuts through water more efficiently by creating little vortices. This concept was then applied to wind turbines. There are many examples of biomimicry actually working and being used. My mind is blown when I talk to an artist or designer about biomimicry because it's just wild the way they think. PR: Where does your overall work as a biologist fit into the world of biomimicry? AS: My hard science work is very much functional morphology – shape and structure of things and how they function. That includes behavior and their organismal interaction with the environment. I ask questions like: How do their structures function and perform? How sticky are they? How fast are they? How do they behave in their environment? What happens if they hit different challenges in their environment? My work kind of naturally fits well with biomimicry, especially for product development. I observe the natural world and then I start testing questions and predictions that I have about it, like figuring out how the heck this ant is sticking to this wet leaf. My results can then be applied directly. We have to first understand how these organisms work, and then others can run with it to try to put it to use. PR: What organisms do you work with and what about them are you studying? AS: I mostly study geckos, ants, and sea urchins and I just started working with some coral, looking at why some coral undergo bleaching, and some don’t. With sea urchins, we're also figuring out where their incredibly hard teeth are mineralized so we can understand it enough to try to mimic it. I like playing in that zone, because it still provides me a chance to do the hard science, but also talk to engineers and others and provide them information. With geckos, what I kind of broke open with my PhD thesis was that they have an adhesive that works in wet environments. Having a reusable adhesive that can work on skin, especially in the medical world, is a big problem and where most of my research lies. Think of a bug that you can’t pry off, but then it suddenly runs. How do these organisms move with such sticky feet? Figuring out how to make a reusable adhesive that doesn’t get dirty and can handle all these different environments is a difficult problem to solve. PR: How do you see this field evolving, especially as we strive for a greener, more sustainable future? AS: I would say the next step is the social levels of these big ecosystems. How do we build a city that functions like a rainforest or like a coral reef? Not just a product, but how do we actually shape our world by taking behaviors, processes, or systems that we see in the natural world to help us? Look at a pride of lions and their hierarchy, or what kind of feedback loops are there in an ant colony that allow them to give information back to their colony members quickly and share resources. I think that is the future of this field, and it’s an exciting future. *To learn more about Dr. Stark’s research and the field of biomimicry, click here to listen to a recent episode of NPR’s science show, “The Pulse.”
National Science Foundation Confirms Record Research Growth at LSU
The National Science Foundation confirmed LSU’s record research expenditures of $488 million in fiscal year 2023. This historic growth of 14% compared to 2022 was previously announced by LSU and represents top performance alongside research university peers such as the University of Kentucky and the University of Tennessee. The growth reflects increased research activity across the LSU Family—especially on the flagship campus and at LSU Health New Orleans and LSU Health Shreveport. The national ranking of LSU’s five research campuses—the flagship in Baton Rouge, the LSU AgCenter, Pennington Biomedical Research Center, and the two LSU Health campuses—increased from 71 to 69, a rise moderated by the average growth of U.S. research universities around 11%. Compared to its peers, LSU is a leader in win-win partnerships with state and local government, with strong and continued investment in research. LSU research adds an estimated $1.3 billion to the Louisiana economy each year. The numbers that were just confirmed by the National Science Foundation recognize LSU as especially strong in federally grant-funded research in life sciences, geosciences, math and statistics, and computer and information sciences. These strengths align with the data-driven research priorities of the LSU Scholarship First Agenda to create new solutions for agriculture, biomedicine, coast, defense, and energy. “This NSF report confirms our focus on research growth to meet the needs of the state as well as our dedication to LSU’s Scholarship First Agenda,” said Robert Twilley, LSU vice president of research and economic development. “The significant increase in federal grants to LSU and Louisiana represents growing investment in our competitiveness and capacity to solve problems for the state and nation.” Read the full NSF report: https://ncses.nsf.gov/surveys/higher-education-research-development/2023
The Great Trillion Dollar Wealth Transfer
Summary: Between now and 2026, over $1 Trillion of wealth will move from Canadian Baby Boomers to younger generations. Dubbed the “Great Wealth Transfer,” this change is underscored by a cultural shift toward “giving while living,” where seniors are motivated to share their wealth during their lifetimes, driven by factors including personal satisfaction, rising costs for younger generations, and tax efficiency. These shifts in wealth highlight the importance of open, informed Intergenerational conversations and the need for trusted financial advice to manage this transfer effectively. However, it risks widening wealth gaps between the haves and have-nots. Better financial literacy, tax planning, and a better understanding of real estate’s role in estate planning and wealth management are essential for ensuring equity and sustainable financial legacies. What it Means • The Largest Transfer of Wealth Is Happening Now: Between now and 2026, over $1 Trillion of wealth will move across multiple generations from Canadian Baby Boomers to their GenX and Millennial heirs. • A Culture Shift is Happening: Older Canadians are now, more than ever, “giving while living.” They actively want to share their wealth with younger family members while still healthy. In many families going forward, you won't hear that familiar phrase, "Hey Gram, Stop Spending My Inheritance!" • We aren't fully prepared for this shift: Families need informed, intergenerational conversations among themselves and with trusted financial advisors. They also need to better understand how some of their more significant assets, such as real estate, can provide tax-efficient ways to unlock and share wealth with younger family members. Boomers are sharing their wealth while they still have their health. Many Canadians have joined the growing trend of “giving while living.” This trend is not only changing societal norms but is also spreading like wildfire. The current economic climate, with out-of-reach housing prices coupled with Boomers wanting to witness the impact of their financial gifts, makes for a perfect storm. This storm, valued at 1 trillion dollars, could rebalance the distribution of wealth for many fortunate beneficiaries. Let’s explore what is motivating the Baby Boom generation in Canada to leave a living inheritance to a younger generation: 1. Psychological Reasons: Many seniors want to help their children or grandchildren with significant expenses such as education or home purchases. This provides a gratifying sense of pride. The logic is that they (children or grandchildren) will eventually get their money, so why not give it to them now when they need it the most? 2. Economic Reasons: Some parents or grandparents feel compelled to step in and help financially as they see their adult children and grandkids struggling. It may be to help fund education or to pay off debt such as a student loan. The burden of debt often delays other decisions, such as having children, traveling, or saving for a down payment on a first home or a bigger home to accommodate a larger family. And the price of homes today is well beyond the means of the younger generation, even without student debt. 3. Personal Reasons: Older Canadians often find joy in seeing their financial contributions positively impact their loved ones during their lifetime. Sometimes, there are some less conspicuous motivators as well. Improving their children’s financial situation may entice them to have precious grandchildren, or providing financial assistance could allow the gift giver to have a say on how the money is spent—something they would have less control over if they were deceased. 4. Tax Savings: Distributing wealth while alive can reduce the size of an estate and minimize probate fees. And with the popularity of RESP's and TFSA's there are options to gift or contribute to these plans that may offer tax advantages. And some seniors aim to avoid conflicts by distributing assets directly, ensuring clarity and fairness. 5. Cultural Reasons: Traditional notions of inheritance and family values are evolving. Many Baby Boomers see their wealth as a tool to uplift and empower their families while they are alive and are able to counsel their families on preserving and spending the money wisely. This is an opportunity for seniors to create a legacy while alive. Sharing wealth can bring a sense of purpose, gratitude, and connection. For many, it’s an opportunity to strengthen family bonds and pass on values like generosity, financial literacy, and responsibility. Impact • A Wider Wealth Gap: This transfer of wealth could have a significant impact by increasing the income disparities between the haves and have-nots. According to figures from the Canadian Professional Accountants Association, at the end of 2022, the wealthiest families in Canada (the top 20 percent) accounted for two-thirds of the country’s net worth, while the bottom 40 percent accounted for just 2.6 percent. In this latest economic cycle of soaring inflation and growing credit card debt, the net worth of Canada’s least wealthy households is suffering. And while we’ve seen recent increases in capital gains taxes, more changes from the federal government will likely be required to bridge this wealth divide. • The Need for Honest Intergenerational Conversations. Let’s face it: having a transparent conversation with family members about death and money is awkward. But post-pandemic, we’re seeing more seniors looking closely at their financial and estate plans to see what they can do to pass on wealth to deserving and often younger family members. Getting to know the impact of one’s gifts has its practical advantages in addition to the karma generated. Whether it’s to help a family member buy their first home, pay down college debt or start a business, these gestures can be transformative for other family members and very satisfying for seniors. As the saying goes, "you can’t take it with you." • The Need for Trusted Advisors. For many of these younger beneficiaries lucky to receive this generational transfer, having a clear financial plan that extends to informed tax strategies will be vital. The entire community, from financial planners to accountants, lawyers and mortgage brokers, have a lot of work ahead of them, according to the research. A recent Ipsos Reid study suggests Canadians are primarily unprepared to manage their inherited money. The Ipsos poll (conducted on behalf of RBC Insurance) reveals that 61 percent of Canadians don’t feel knowledgeable about (or haven’t even heard of) the probate process or the process to establish the validity of a will, and 57 percent don’t know that specific insurance policies can mitigate estate tax burden. • Improved Financial Literary for All Ages. Conversations about money also need to extend to better discussions about how significant assets such as real estate holdings contribute to wealth. For instance, given a considerable proportion of many family estates are related to real estate and more seniors are looking to “Age in Place” at home, seniors and their adult children must understand various financial strategies, such as equity lending, that can give seniors the financial freedom to age in place while giving them the cashflow to help younger family members while reducing potential tax burdens. Getting to know the impact of one’s gifts has its practical advantages in addition to the karma generated. Whether it’s to help a family member buy their first home, pay down college debt or start a business, these gestures can be transformative for other family members and very satisfying for seniors. As the saying goes, "you can’t take it with you." The Bottom Line One thing is certain. This is an infrequent event, which, over the next few years, will benefit many. Much is on the line for families, the financial industry, and our government. We should expect to see more discussions on tax reform and addressing wealth disparities to ensure social stability and economic growth. And it will require the financial industry to adapt in a number of ways. For instance, how should we account for these demographic shifts and potentially longer lifespans in our guidelines and how we work with clients? I also hope we see more open and honest discussions about family legacy and financial literacy/education, which play a significant role in preparing the next generation to handle inherited wealth responsibly. As I continue research for my upcoming book, I'm looking closer at demographic trends, gaps in financial literacy, to how our industry needs to work better with Seniors in a way that recognizes these emerging cultural and economic shifts. I'd like to know what you think. Drop me a line in the comments, or reach out to me directly at our new website - www.retirewithequity.ca Don't Retire...Re-Wire! Sue
Does Donald Trump Like Seniors?
At 78, Donald J. Trump already has 13 years of experience as a senior citizen. During his previous presidency, he occasionally referenced his senior status, particularly when discussing issues affecting older Americans. For example, in the 2020 election campaign, he acknowledged his age and addressed fellow seniors directly in his messaging, sometimes referring to himself as part of the senior community. Looking at his record, Trump appears to have a complex relationship with seniors. While expressing support for essential programs such as Social Security and Medicare, he often weaves the needs of seniors into his rhetoric. Yet some of his policy decisions have created mixed feelings among older Americans and advocacy groups. While pledging to protect these programs, he’s considered budget-cut proposals to reduce the funding of both these programs. Plus, his administration attempted to repeal the Affordable Care Act. While even the smartest of experts have learned it’s difficult to predict what Donald Trump will do on key policy decisions, there are some clues as to how his move back into the Oval Office will impact Canada and, more specifically, seniors. This topic got me wondering. Does Trump (a senior himself), like seniors? Let’s look closer at this demographic. Everyone knows that older people are the most reliable voters. The stats are compelling. According to Elections Canada - 75% of Canadians aged 65-74 voted compared to 48% of those aged 18-24. - The statistics for our US neighbours are similar, with 70% of Americans aged 65+ voting and 50% of Americans aged 18-29 voting. Knowing this voting power of the senior demographic, did Trump pander to this voting cohort? Yes, he most certainly did. He knew that as people age, their concerns narrow to a smaller list of critical topics such as Financial Security, Health, and Safety. During his 2024 presidential campaign, Donald Trump focused heavily on appealing to older voters, who historically make up a significant portion of the electorate and are more likely to vote. His campaign emphasized economic stability, protecting Social Security and Medicare, and national security—particularly relevant to older demographics. Let’s take a closer look at how the Trump administration could impact Canada's senior demographic in the following areas: Inflation Background: Inflation has a direct correlation to the cost of living. As the prices of goods and services rise over time, the purchasing power of money decreases – a challenge for many seniors. Critical expenses like housing, healthcare, food, and utilities could increase noticeably, putting pressure on limited retirement incomes and pensions. All this is stressful. According to a 2024 national survey of over 2,000 Canadians (conducted by Leger on behalf of FP Canada), money remains the top stressor for Canadians, with 44 percent citing money as their primary concern; That's up from 40 percent in 2023 and 38 percent in both 2022 and 2021. What This Means: Two of Trump’s biggest promises in his campaign (mass deportation of undocumented immigrants and more restrictive trade regulations) would have a "significant impact," according to an article by Ellen Cushing in the Atlantic. A domestic labour shortage plus double-digit import taxes would raise food prices on both sides of the border. Cushing goes on to say that “deporting undocumented immigrants would reduce the number of workers who pick crops by 40-50%.” While this rhetoric may have played well during the campaign, you can't fake the simple math here. Fewer workers means higher wages. That means higher prices. And the senior demographic will be hit hard because of their fixed incomes. Many will eat less of the expensive grocery store items like fresh meat, fruits and vegetables to make ends meet. Food prices will inevitably climb with these policies. The only question is when. According to a new poll conducted for CIBC and Financial Planning Canada on November 27, 2023, approximately 75% of working Canadians still need a formal financial plan for retirement. And many retirees face economic difficulties. A whopping 25% are still carrying debt into retirement. Many also report they have a substantial portion of debt and report that their retirement lifestyle isn't as comfortable as expected. The impact of inflation could be dire with few solutions; it is different for these older Canadians because they cannot re-enter the workforce. The only saving grace is that many of the hardest-hit Canadians are homeowners with equity options. Interest Rates Prediction: According to Beata Caranci, SVP & Chief Economist of TD Bank, the US is likely to raise interest rates to control growth. Canada is also expected to increase its rates, mainly to keep the Canadian dollar stable against the U.S. dollar. The Bank of Canada could be forced to rescind the projected planned interest rate reductions or at least reduce them. However, it's a delicate balancing act. Our economy could suffer if we don’t mirror the US increases in interest rates. Impact: Increasing Canadian interest rates will impact seniors by increasing mortgage carrying costs. At the same time, older Canadians with investment savings could see increased returns on these savings. A rise in interest rates would also impact housing prices and foreign exchange rates. House Prices Background: Economic, demographic, and policy-related factors influence home prices in Canada. The new Trump administration will undoubtedly impact these factors. To understand this area, let's examine some significant variables affecting housing costs. 1. Supply and Demand When housing supply is limited, and demand is high, prices rise. Conversely, when supply exceeds demand, prices stagnate or fall. Should the new administration adopt more restrictive immigration policies in the US, Canada might see an increased influx of skilled workers and families seeking an alternative place to live. Housing demand will likely increase in major Canadian cities—Toronto, Vancouver, and Calgary- resulting in price increases. 2. Population Growth An increase in population or immigration boosts housing demand, particularly in urban centers, consequently increasing home prices. Canada welcomed 485,000 immigrants in 2024, many of whom settled in cities like Toronto and Vancouver. This influx has driven up demand for housing, contributing to price increases. The Canadian government has recently reduced the number of immigrants we allow into our country, dropping the number from 500,000 to 395,000 in 2025. Current immigration numbers plus any overflow from the US should keep demand buoyant and we could see home prices continue to rise. However, Canada needs more housing, especially in high-demand urban areas. In addition to immigration, slow construction timelines and zoning restrictions are contributing factors. Canada's ongoing housing shortage and the potential impacts of Donald Trump's election win in the U.S. could exert upward pressure on home prices, particularly in major cities like Toronto and Vancouver. These cities, already grappling with limited housing and high prices, will likely see further price increases due to increased demand. Without robust policy interventions to increase the housing supply, Canada’s housing prices, particularly in major centers, will likely continue rising. And there will be winners and losers here. This is great news for seniors wishing to sell and exit the market by finding other living arrangements, such as renting, moving in with family, or entering retirement homes. It is even better news for seniors wishing to age in place as they will have more equity to fund their retirement. But it’s disappointing news for those wishing to downsize and stay in the same communities. They may be able to sell high, but they could also be forced to buy high. 3. Foreign Currency Trump's policies, such as tax cuts and protectionist trade measures, have historically strengthened the U.S. dollar. If similar policies are reintroduced, the U.S. dollar could become more robust due to increased investor confidence and perceived economic growth in the U.S. That’s bad for Canadians traveling or living in the U.S. Trump's potential trade disputes, particularly with China, and his aggressive geopolitical stance could also create uncertainty in global markets. While this might temporarily strengthen the U.S. dollar as a haven, long-term concerns about trade wars and deficits could cause fluctuations, impacting the Canadian dollar's stability against the U.S. dollar. This volatility directly impacts Canadians, especially those with significant financial exposure to the U.S. dollar. A second Trump presidency will likely impact the exchange rate between Canadian and U.S. dollars, which is especially relevant for 85% of Canadian Snowbirds, who, according to Snowbird Advisor, spend winters in the United States. This number was estimated to be 900,000 in 2023. These seniors may face increased expenses for property taxes, utilities, and other daily living costs in the U.S. If exchange rate volatility persists, locking in more favourable rates or using specialized currency exchange services, US credit/debit cards with lower transaction fees, and using US dollar accounts might be wise - especially for more significant financial transactions. The Bottom Line One thing is certain. Trump's second term has the potential to impact many Canadian seniors if he implements the policies he discussed during his election campaign. While some could benefit financially from higher home equity and investment returns, many may need help with increased living costs, especially food and foreign exchange challenges, particularly Snowbirds and those on fixed incomes. While we are all watching this situation unfold, one thing is sure. It's difficult to predict if Trump’s second term will make Canadian or US seniors "great again."
Higher Education Enters the Ring
Why it matters Yesterday’s announcement that Linda McMahon is President-elect Donald Trump’s pick to lead the Department of Education ushers in a new era for universities and colleges. This signals a sharp pivot toward decentralization and pro-business policies, and it's expected that McMahon’s leadership will focus on dismantling traditional federal education structures, expanding school choice, and aligning education priorities with a business-first agenda. Higher education faces funding uncertainties, new accountability pressures, and the need to demonstrate its relevance in supporting economic growth. The Big Picture McMahon’s appointment reflects Trump’s broader strategy to reframe education policy in a way that prioritizes state control, entrepreneurship, and conservative cultural values. This will likely have significant consequences for higher education, including: Decentralization: Shifting control of education policy and funding to the states. School Choice Expansion: Redirecting public funds to private, religious, and homeschooling options. Economic Alignment: Pressuring institutions to support industry, small business, and workforce development through research, partnerships, and entrepreneurship/startup programs. Cultural Shifts: Rolling back policies on diversity, equity, and inclusion while emphasizing “patriotic” education. What’s at Stake Federal Funding Cuts: Threat: Research funding, Pell Grants, and other federal supports may face cuts. Reality Check: Congressional approval is required to eliminate funding streams like Title I, making complete federal withdrawal unlikely but changes and funding disruptions possible. Policy Shifts: Threat: Federal oversight will likely weaken, and policies favoring vocational and workforce-aligned education will likely put increased pressure on programs such as liberal arts. Universities will also likely face increasing pressure to align with ideological goals, such as restricting DEI (diversity, equity, and inclusion) initiatives. The new administration could wield considerable control over the school accreditation process, which has been seen by some to force ideological changes on campuses. There has been a movement to decentralize accreditation authority, reduce federal oversight, and align educational standards with conservative values. According to the Council for Higher Education, many of the ideas put forward focus on empowering states to authorize accrediting agencies and even serve as accreditors themselves, shifting control from federal to state governments. Action: Institutions must better identify their options amidst a rapidly evolving agenda at both the state and federal levels, develop strategies and secure the resources necessary. For instance, there are calls to prohibit accreditors from requiring institutions to implement Diversity, Equity, and Inclusion (DEI) policies. Institutions also need to understand what the implications of a more diverse accreditation landscape could be, with standards varying significantly across states, potentially affecting the uniformity and transferability of academic credentials nationwide. Reputational Risks: Concern: Growing public skepticism toward higher education undermines enrolment and support. Impact: Conservative narratives favoring alternatives like apprenticeships and other programs that support the economy and job growth will likely gain traction. Preserving Institutional Independence: Pressure: Universities face increased scrutiny of their course curriculum and research priorities that may be deemed ideologically contentious. Opportunity: Institutions must tangibly demonstrate their value to society. The more they can do to break down barriers between “town and gown” and counter the narrative that paints them as too expensive, elitist, and out of touch. Demonstrating Economic Impact: Need: Universities must showcase their role in driving economic growth through research, commercialization, and support for small businesses and entrepreneurs. Opportunity: Institutions should communicate their relevance in relatable ways that engage with businesses, emphasizing tangible contributions to research innovation and job creation as a positive return on investment that can be messaged to taxpayers. Key Questions for Higher Ed Leaders Funding: How can we diversify revenue streams and reduce reliance on federal support? Advocacy: How should universities engage state and federal leaders to protect their interests? Reputation: How can higher education rebuild public trust and counter skepticism? Relevance: How do we better communicate the value of university research and its role in supporting a pro-business agenda? Adaptation: Can institutions innovate by expanding industry partnerships, online education, and workforce-aligned programs? Implications of Project 2025 Project 2025 is a comprehensive initiative spearheaded by the Heritage Foundation, a conservative think tank, aiming to reshape the U.S. federal government through a conservative lens. Launched in April 2023, it serves as a strategic blueprint for a potential conservative administration, detailing policy proposals, personnel strategies, training programs, and a 180-day action plan. Analysis from the Brookings Institution states that "many proposals in Project 2025 would require an unlikely degree of cooperation from Congress, though others could be enacted unilaterally by a second Trump administration.” While we don’t know the full extent to which Project 2025 will be implemented, its agenda seeks to reshape federal agencies, including the Department of Education, with a significant impact on the sector. Key areas of focus include: Title I and Student Aid Proposals to give parents more control over federal funds could deprioritize public education. Tax Credits for School Choice Incentives to support private school tuition may shift K-12 pipelines, impacting university enrolment. Economic Realignment Universities will need to align with business priorities, emphasizing innovation, commercialization, and job creation. Diversity Equity & Inclusion Project 2025 explicitly calls for reducing federal spending on what it deems unnecessary or politicized initiatives, and DEI programs are likely to fall under this categorization. This could have wide-ranging impacts, including changes to school ranking systems that have a DEI component. Ranking bodies such as US News & World Report may need to adjust their methodologies to account for changes in diversity initiatives and data availability. With potential reductions in diversity-related data, rankings might place greater emphasis on other factors such as academic performance, faculty qualifications, and post-graduate outcomes. This also could extend to endowments, which direct funding toward diversity programs through scholarships and fellowships. For institutions that rely heavily on DEI as a cornerstone of their fundraising and donor relations strategies, they may experience reduced donor enthusiasm, particularly from philanthropic organizations or alumni committed to these causes. Regulatory Rollbacks There is the potential for significant changes to Title IX protections and federal loan forgiveness programs, creating legal and financial uncertainty. What Universities Can Do Now: Secure Funding Build relationships with private donors, businesses, and industry partners. Strengthen advocacy efforts at the state level to safeguard funding & other resources. Adopt proactive strategies to mitigate potential policy impacts, such as diversifying revenue sources, engaging donors with aligned government priorities, and ensuring compliance with evolving regulations. Reinforce Public Trust Explain complex topics in accessible ways to help the public and policymakers make informed decisions. Help promote and support faculty who can serve as credible sources for the media, countering misinformation and fostering informed dialogue. Strengthen community connections with your experts through public speaking engagements, workshops, and local events. Position the university as a hub for knowledge and innovation that benefits the community. Capitalize on the reach and influence of alumni. Highlight their successes to show how they benefitted from educational programs and research. Position them as important role models and advocates in the community who are contributing to economic growth. Demonstrate Relevance Showcase faculty and their research breakthroughs. Demonstrate how their work benefits industries, supports entrepreneurship and addresses societal challenges. Speak to real-world outcomes in health, technology, the environment, and more. Use accessible language to connect with policymakers, business leaders and taxpayers. Strengthen Advocacy: Partner with peer institutions to shape policy discussions. Position universities and colleges as vital contributors to a pro-business agenda. Innovate: Expand stackable credentials and micro-credential programs that are aligned with private and public sector requirements and emerging skills-based models. Look at new online education options. Embrace partnerships that connect academic research to real-world economic impact. Universities must deliver a more compelling, data-driven, yet humanized story about their institution’s contributions, fostering stronger relationships with government, the private sector, and taxpayers. What's Next This new era will most certainly challenge higher education to rethink its approach to funding, policy, and public engagement. For all institutions, both public and private, there is no place to hide. As they step into the ring, Higher Education leaders will need lots of support as they look to forge new paths for research, teaching, and community service while engaging their stakeholders in ways that more powerfully communicate their vital contributions to society. The bell has rung—are you ready?
Dangers of the Metaverse and VR for U.S. Youth Revealed in New Study
The metaverse, a space where the lines between physical and digital realities blur, is rising among younger populations. As of March, 33% of teens own a virtual reality (VR) device and 13% use it weekly. With the metaverse offering richer emotional experiences, youth may be particularly vulnerable to significant harm in these immersive spaces, underscoring the need to explore potential risks. Unfortunately, research of online victimization in the metaverse is sorely lacking. A new study by Florida Atlantic University , in collaboration with the University of Wisconsin-Eau Claire, is one of the first to examine the experiences of harm in the metaverse among youth in the United States. Using a nationally-representative sample of 5,005 13 to 17 year olds in the U.S., researchers focused on their experiences with VR devices, including 12 specific types of harm experienced, protective strategies employed, and differences in experiences between boys and girls. Results of the study, published in the journal New Media & Society, found a significant percentage of youth reported experiencing various forms of harm in these spaces, including hate speech, bullying, harassment, sexual harassment, grooming behaviors (predators building trust with minors), and unwanted exposure to violent or sexual content. The study also revealed notable gender differences in experiences. Among the study findings: 32.6% of youth own a VR headset (41% of boys vs. 25.1% of girls) More than 44% received hate speech/slurs (8.9% many times); 37.6% experienced bullying; and 35% faced harassment Almost 19% experienced sexual harassment; 43.3% dealt with trolling; 31.6% were maliciously obstructed; and 29.5% experienced threats More than 18% were doxed (publicly revealing someone’s personal information without their consent); and 22.8% were catfished (creating a false identity online to deceive someone, typically for romantic purposes) Nearly 21% faced unwanted violent or sexual content; 18.1% experienced grooming or predatory behavior; and 30% were targeted for factors like weight, sexual preference, sexual orientation or political affiliation Boys and girls experienced similar patterns of mistreatment, but girls experienced sexual harassment and grooming/ predatory behavior more frequently than boys. Boys and girls were equally as likely to be targeted because of their voice, avatar, race, religion or disability. “Certain populations of youth are disproportionately susceptible to harm such grooming, especially those who suffer from emotional distress or mental health problems, low self-esteem, poor parental relationships and weak family cohesion,” said Sameer Hinduja, Ph.D., first author, a professor in the School of Criminology and Criminal Justice within FAU’s College of Social Work and Criminal Justice, co-director of the Cyberbullying Research Center, and a faculty associate at the Berkman Klein Center at Harvard University. “Due to the unique characteristics of metaverse environments, young people may need extra attention and support. The immersive nature of these spaces can amplify experiences and emotions, highlighting the importance of tailored resources to ensure their safety and well-being.” Findings also reveal that girls employed in-platform safety measures significantly more so than boys such as “Space Bubble,” “Personal Boundary” and “Safe Zone.” “We found that girls are more likely to select avatars designed to reduce the risk of harassment and to use in-platform tools to maintain a safe distance from others. Additionally, both boys and girls feel comfortable leaving metaverse rooms or channels like switching servers in response to potential or actual victimization, although overall, youth tend to use these safety features infrequently,” said Hinduja. Among the recommendations offered to youth by the researchers include: Using platform-provided safety features to restrict unwanted interactions and infringements upon their personal space. It is also essential that youth understand and take advantage of the safety features available within metaverse experiences, including blocking, muting, and reporting functionalities. Continued research and development in these areas to determine how to meet the needs of users in potential or actual victimization contexts Streamlining platform reporting mechanisms to ensure swift action is taken against perpetrators Age-gating mechanisms for metaverse environments where mature content and interactions proliferate Encouraging parents and guardians to take the time to familiarize themselves with available parental control features on VR devices and metaverse platforms to set boundaries, monitor activities, and restrict certain features as needed. An active mediation approach is ideal, where they engage in open and supportive dialogue with children about their metaverse experiences. The integration of updated, relevant, and accessible digital citizenship and media literacy modules into school curricula to provide youth with the necessary knowledge and skills to navigate VR and other emerging technologies safely and responsibly Consideration by content creators of the ethical implications of their metaverse creations, ensuring that they promote inclusivity, respect, and discourage any form of harassment. They should strive to make their virtual experiences accessible to users from diverse backgrounds, languages, cultures and abilities. “VR concerns of parents and guardians generally reflect and align with their historical anxieties about video games, excessive device use, its sedentary nature, cognitive development, and stranger danger,” said Hinduja. “There remains so much promise with these new technologies, but vigilance is required when it comes to the unique challenges they present as well as the unique vulnerabilities that certain youth users may have. As such, it’s ‘all hands on deck’ to build a safer and more inclusive metaverse as it continues to evolve.” If you're looking to know more - let us help. Sameer Hinduja, Ph.D., is a professor in the School of Criminology and Criminal Justice at Florida Atlantic University and co-director of the Cyberbullying Research Center. He is recognized internationally for his groundbreaking work on the subjects of cyberbullying and safe social media use, concerns that have paralleled the exponential growth in online communication by young people. He has written seven books, and his interdisciplinary research is widely published and has been cited more than 18,000 times. Simply click on Sameer's icon now to set up an interview today.
Black Friday Shoppers Seek Deals on Electronics, Early Sales and Convenience in a Competitive Market
This year’s Black Friday shopping will bring a fresh wave of trends for both consumers and retailers. With electronics, online convenience and competitive pricing at the forefront, the landscape of Black Friday is evolving to match the shifting shopping habits of today’s consumers, said Baylor University consumer behavior expert James A. Roberts, Ph.D. Roberts – who serves as The Ben H. Williams Professor of Marketing at Baylor’s Hankamer School of Business – keeps a close watch on Black Friday, including what he sees as the Top 5 trends for holiday shopping in 2024. Top Trends for Black Friday 2024 The Shift in Shopping Habits: The balance between online and in-store sales remains steady, with consumers enjoying a 50/50 split in shopping preference, Robert said. While COVID-19 accelerated a surge in online shopping, this year, both are expected to perform equally as shoppers appreciate the flexibility of both options. Holiday Deals Start Early: As the competitive landscape has grown, Black Friday sales now launch weeks in advance. This early kickoff benefits consumers who are eager to lock in discounts and spreads out the typical holiday rush, providing retailers a longer window to capture consumer interest, Roberts noted. Electronics Dominate Sales: As in previous years, electronics will be the driving force of Black Friday 2024, accounting for nearly half of all sales. Roberts said that shoppers are especially focused on deals for televisions, laptops, smartwatches and gaming consoles – underscoring the lasting demand for high-quality technology at competitive prices. Gen Z and Millennials Drive Online Growth: Digital natives like Gen Z and Millennials continue to shape holiday shopping habits. Roberts said their comfort with online shopping – coupled with their mobile-first approach – makes them a powerful force in the online retail space. Retailers can expect these younger consumers to leverage social media, mobile apps and seamless e-commerce platforms for their holiday purchases. Rising Categories: Beyond electronics, Roberts predicts that other sectors will see strong sales this season, particularly in clothing, cosmetics and home appliances. As consumer preferences expand, brands in these categories should prepare for increased demand. Factors shaping consumer choices For Black Friday in 2024, competitive pricing and convenience remain top priorities, Roberts said. “Retailers who offer the best deals alongside quick and reliable delivery options stand out among consumers,” he said. Additionally, low-cost brands – such as Shein – have set consumer expectations for affordable pricing, even as “Buy Now, Pay Later” options have increased in popularity – though Roberts said retailers and consumers alike should be cautious when using this financing option at the risk of overspending. Future of Black Friday Looking ahead, Roberts said Black Friday’s trajectory appears geared more towards online channels, with each year seeing a slight shift away from brick-and-mortar shopping. Retailers are encouraged to keep an eye on pricing expectations and financing trends, as they’ll play an increasingly influential role in the holiday season. ABOUT JAMES A. ROBERTS, PH.D. James A. Roberts, Ph.D., is The Ben H. Williams Professor of Marketing at Baylor University’s Hankamer School of Business. A noted consumer behavior expert, he is among the "World's Top 2%" most-cited scientists in a database compiled by Stanford University. In addition to journal citations, Roberts has often been called upon by national media outlets for his consumer expertise and latest research. He has appeared on the CBS Early Show, ABC World News Tonight, ABC Good Morning America, NBC’s TODAY Show and NPR’s Morning Edition, as well as in articles in The New York Times, USA TODAY, The Wall Street Journal, TIME and many others. Roberts’ research has focused on how individual consumer attitudes and behavior impact personal and collective well-being. His research has investigated the factors that drive ecologically and socially conscious consumer behavior, the impact of materialism and compulsive buying on well-being and the impact of smartphone and social media use on personal well-being. He is the author of “Shiny Objects: Why We Spend Money We Don’t Have in Search of Happiness We Can’t Buy” and “Too Much of a Good Thing: Are You Addicted to Your Smartphone?”
Consumers Face Elevated Prices Despite Waning Inflation
The years of high inflation appear to be over as inflation is now in line with the Federal Reserve’s target, though prices will likely remain permanently elevated, according to the Monthly Inflation Report produced by Florida Atlantic University’s College of Business. The Personal Consumption Expenditures Price Index (PCEPI), the Federal Reserve’s preferred measure of inflation, grew at a continuously compounding annual rate of 2.1% in September, up from 1.4% the prior month. Overall, PCEPI inflation has averaged 1.8% over the last three months and 2.1% over the last year. “The good news is that the period of high inflation appears to be in the rearview mirror. The bad news is that prices remain permanently elevated,” said William J. Luther, Ph.D., associate professor of economics in FAU’s College of Business. “The PCEPI is about nine percentage points higher today than it would have been had inflation averaged 2% since January 2020. This unexpected burst of inflation transferred wealth from savers and employees to borrowers and employers.” Core inflation, which excludes volatile food and energy prices, remains elevated. Core PCEPI grew at a continuously compounding annual rate of 3% in September. It has averaged 2.3% over the last three months and 2.6% over the last year. High core inflation is partly due to housing services prices, which grew at a continuously compounding annual rate of 3.8% in September. “If the Fed were committed to price stability, it would have helped bring prices back down to a level consistent with pre-pandemic inflation,” Luther said. Fed officials have projected another 25 basis points worth of rate cuts this year, a much smaller change than is required to return the policy rate to neutral. Since the data shows inflation is back on track, Luther says they should move more quickly. “As it stands, Federal Open Market Committee members intend to take some time reducing the policy rate to neutral, with policy likely to return to neutral sometime in 2026,” Luther said. “They might move more quickly if the economy shows signs of contraction or reduce the pace of rate cuts if they become concerned that inflation will pick back up.” William Luther, Ph.D., an assistant professor in FAU’s Economics Department, has expertise in economic growth, monetary policies, business cycles and cryptocurrencies. Luther’s research has obtained media interest across the nation, including recent coverage by The Wall Street Journal, Politico and Florida Trend. If you're looking to know more - let us help. Simply click on William's icon now to set up an interview today.
