I don’t know Drivesaitl I think Edmonton has a lot of people with money. I go to restaurants and they are full and people are spending lots of money on drinks and food. I look around just my neighborhood (or even just driving around Edmonton) and everyone has a luxory car. Audi’s, Mercedes, BMWs, Porches. I even seen a couple Lambo’s and a Bentley just recently. A lot of these cars are driven by kids (late teens and early 20s).
Everywhere you look people are wearing designer clothes. How many women have purse’s that are a grand or more? I see lots.
.
What you describe here is often gang and drug money related, just saying. Occasionally its from Software producers and such, but often Gangs. We have more criminals, more gangs, more drug trafficking per capita than anywhere in Canada.
Another source of money would be immigrant rich and wealthy coming here, not just the Lower mainland where that happens. Toronto gets tons of it too. We get immigration that wants to be near family or in neighbornoods with comfortable concentrations of nationals. Canada in general is an increasingly popular immigration target for those with money.
Stock markets are not really that up right now. Continues to be a ton of turmoil in the market.
All the indices indicate increased living beyond means. Increased debt, increased spending, increased taxation (enormous in Edmonton with all levels of Govt)
I'm older so I've seen the patterns before. A lot of the spenders have already been impacted. A lot of analysts say it often takes years from downward spirals to see the real economic hurt. When the accrued money runs out scenarios because people are not making the same incomes or debt levels are expanding.
Things I haven't mentioned are increased intergenerational reliance on funds. Kids spending their parents or families money and livng at home to age 30. Often times that disposable income is not their own.
The young people driving fancy rides is an anomaly. Most young people today don't even purchase a vehicle. Which is smart actually. But increasingly the funds are eaten up by increased spending on tech devices, entertainment, and travel. Saving, apparently, is a thing of the past. Spend now is the message with younger generations. Its a problem.