Page 10 - Sports Energy News, Cornwall, Issue No 151

10 Issue #151 August 2025 www.sportsenergynews.com

om Our
Neighbourly
Neighbourly Advice From Our Local Professionals
Local Pr
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Advice Fr

By Brian Johnston Average mortgage balances among balances increased by $18,000 for
Mortgage Specialist households where the primary earner households aged 55-64 and by $4,000 for
is under 35 years of age have fallen by those aged 65 and older.
Young Families’ Mortgage Balances $15,500 since their peak in the third Housing market barriers drive changes
Drop Despite Rising Housing Costs quarter of 2022. The reduction stands at The decline appears partly explained by
Young Canadian families are carrying $11,000 compared to the first quarter of fewer young people entering the housing
smaller mortgage balances even as housing 2023. market or choosing less expensive homes
affordability becomes increasingly This trend contrasts sharply with other age due to affordability challenges. Household
challenging, according to a new TD groups, where mortgage debt continues to formation in this age group has surged,
economics report released Tuesday. climb. During the same period, mortgage Continued on page 13

By Michael VanderMeer free home ownership - all you have to do is that if you are mortgage free, your taxes
Real Estate Agent is lock the door and take off. Even those and condo fees are still less than what you
who have summer cottages may want to would pay for rent.
CONDO LIVING - IS IT RIGHT FOR take advantage of owning a condo and There are some skeptics on condo’s
YOU? only having to maintain one property because of the monthly fees. Even if you
Condo’s provide the security of home during the summer. are mortgage free you are going to have
ownership without a lot of the obligations Condo ownership is also a good a monthly expenses. What these skeptics
such as maintenance, repairs, grass investment over renting for a couple of don’t take into consideration is that even
cutting, and snow removal. reasons. First, your property value goes up if you own a home you are going to have
If you are a snowbird or travel extensively yearly versus a rental where your money ongoing maintenance fees. There is the
throughout the year, condo’s are worry- goes to a landlord. The second advantage Continued on page 13

Max Ming P.Eng. CFP ® The stock market can feel like a along the way. In fact, the longer you’re
Financial Planner rollercoaster in the short run, as it goes up invested, the more likely you are to
one day, down the next. But over time, it experience market drops of 20% or more.
Investing for Decades, Not Days tends to reward those who stay invested. But those dips are normal, expected, and
In May of this year, Warren Buffett stepped Here’s a simple way to think about it; if not a sign something’s gone wrong.
down as CEO of Berkshire Hathaway at you had invested in a group of 500 major The key is having a plan you can stick to.
the age of 94, after nearly sixty years in U.S. companies (known as the S&P 500) A mix of investments helps smooth out the
the role. His long tenure reminds us that in at any point in the past seventy-five years, ride, and staying invested through both the
investing, time is one of the most powerful your chances of making money increased ups and downs gives your money a better
tools we have.
the longer you stayed invested. One year in chance to grow. Buffett’s career shows us
Many people end up focusing on short term results when
the market? About a 75% (3 in 4) chance that success often comes from patience and
investing, but it’s actually the long game that matters most. Even
of gaining. Ten years? Over 90% chance. consistency. The same is true for investing.
in retirement, you might need your money to last another twenty or Fifteen years? Every single time. Think in decades, not days!
thirty years; which means your investments need to keep growing That doesn’t mean there won’t be bumps Enjoy your summer!
as the costs of goods and services will no doubt keep rising.

With our 2025 “Just Homes Listing Program”, Homeowners will never pay more than

3 3/4%+ HST commission which includes full weekly local newspaper

Owned and Operated by M. Jean Cameron Real Estate Limited advertising until sold, internet promotion and even an open house program when needed.
Serving the Community since 1959
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check us out on the web at: without another real estate brokerage involved in the sale, we further reduce our
www.soldsmart.ca
sandy@homesnet.ca commission to only 2% + HST
“Not intented to solicit properties already listed for sale”