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Letters  

RE: Math of home prices

I would disagree with your statement that higher assessments are meaningless and it's not about whether you simply sell or die.

My first real estate purchase was a small one bedroom condo which was all I could possibly afford at the time but it gave me my start and eventually I've worked my way up into a beautiful home in Kelowna. If rising house prices are meaningless then why even own a house?

Just because a house isn't liquid cash doesn't mean it isn't important as it's still a very valuable asset. When your house value goes up you create more equity in your home and in turn you get financial flexibility which is extremely important. Equity can be very beneficial as it can be used for further investment, upgrading or doing renovations, if your young and you get married you can combine resources, retirement, health issues.

So I'm happy that my house has increased in value and the options it's created! Very meaningful! 

Doug Schoon
 



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