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Homeowners face financial risk if housing prices fall: Watson Celebrating continued from p.11 ers are oblivious to the ongoing warnings that have been issued since 2008, and have watched as house prices have continued to escalate. A 20 per cent increase The Toronto Real Estate Board reported prices for detached and semi-detached houses increased 20 per cent for the 12 months ending in June. A single-family detached house in Vancouver now sells for just more than $1.5 million. Real estate has de ed gravity and prices have continued to soar. If housing prices fall, many homeowners face a nancial risk, especially those who have borrowed excessively. My recommendation is to separate the reasons to own a house. Pride and comfort of home ownership is one thing and investing in real estate for pro t is another. The popular consensus about real estate is it is an excellent investment. It has been excellent during recent years, however, over the longer term, real estate as an asset class has increased in value signi cantly less than owning stocks as an asset class. Simply put, if your motivation is pro t, the long-term evidence supporting stocks over real estate is compelling. Bene ts of reducing mortgage debt If you do own real estate, consider the bene ts of reducing mortgage debt. Canadian households are holding record debt levels and when interest rates eventually rise, the nancial stress will be suffocating. There are bene ts to owning a house and there are also risks. Consider both the upside and downside of home ownership. -- Submitted by Peter Watson of Peter Watson Investments and Aligned Capital Partners Inc., MBA, CFP , R.F .P ., CIM, FCSI., Certi ed Financial Planner 13 | Thursday, July 21, 2016 | OAKVILLE BEAVER | www.insideHALTON.com 6 years of peace of mind. Since Carmel moved into her Chartwell residence, daughter Cathy admits her mom is so busy with social events that it's sometimes difficult to get her on the phone! Instead of managing errands and worrying about household responsibilities, the two now spend more quality time together. You too can experience the peace of mind that comes with living in an engaging community. CHARTWELL.COM Follow Oakville Beaver staff on Twitter: @OakvilleBeaver, @NewsHooked, @DavidLea6, @JuliaLeReporter, @HerbGarbutt, @PostBeaverSport and @Halton_Photog MATTRESS SALE ASHLEy POCKET COIL SINGLE MATTRESS ORCHID EURO TOP POCKET COIL SINGLE MATTRESS $ 299 KING MATTRESS $ 369 KING MATTRESS DOUBLE MATTRESS $ 369 QUEEN MATTRESS $ 449 $ 649 DOUBLE MATTRESS $ 499 QUEEN MATTRESS $ 549 $ 699 Electric Bed Twin/XL $ BASE ONLy 899 Available in 12 Finishes Patent No: CIDR 150302 US D7126765 CD & US UPatent Pending MILTON 238 Main Street, East · 905.878.4606 MISSISSAUGA 2150 Burnhamthorpe Road · 905.542.0481 HOURS: Monday - Wednesday 10am - 6pm · Thursday - Fraiday 10am - 8pm · Saturday 9am - 6pm · Sunday 11am - 5pm 180 Oak Park Blvd. Oakville Make us part of your story. 289-644-2960 Conditions may apply.