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INFLATION IS
INFLATION
During our generation, the inflation rate has bounced between 4% and 20%. That’s a lot of bouncing and the bottom figure always seems to be higher than the last bottom. Let’s not kid ourselves. Whether it’s 4% or 20%, inflation is inflation and unless you do something to protect your hard-earned money from losing its value, you lose.
If you hide $1,000 in your mattress, while you sleep on it for ten years at a 5% inflation rate, the $1,000 will be worth only half of its buying power when you remove it from the mattress. On the other hand, if you purchase your home for $100,000 when you bought your mattress, the value of your home would have appreciated 50% to $150,000 while you incubated your cash wad in the mattress.
Even better news. Your house probably went up MORE than the inflation rate because home values always rise faster than the cost of living. Last year, values rose from 2 to 3.5% more than inflation. You don’t have to be a genious to make money owning your own home.
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, VA. 22747. Phone: 6753400. We’re here to help.
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