Real Estate vs. Inflation: Numbers Don't Lie
For those of you not using the Big Mac Scale:
The Consumer Price Index (CPI) was 256.558 in July 2019 and is now 314.54.
The median home price was $284k in July 2019 and has risen to $440k in July 2024.
Inflation has devalued the dollar by approximately 23% over the past 5 years, while real estate values have surged by 55%, significantly countering inflation.
We've all heard nostalgic stories about the good old days when prices were much lower, like the $1 Whopper that now costs $3. Inflation is a basic economic reality, and yes, I may be craving burgers and fries right now.
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• Things to Consider Before Waiting For Inte...
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Sources:
Google Finance
NAR
Trading Economics
Statista.com
ycharts.com
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