{"id":8188,"date":"2022-10-19T06:00:40","date_gmt":"2022-10-19T10:00:40","guid":{"rendered":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8188"},"modified":"2022-10-19T06:00:40","modified_gmt":"2022-10-19T10:00:40","slug":"should-you-still-buy-a-home-with-the-latest-news-about-inflation","status":"publish","type":"post","link":"https:\/\/blog.sfloridaluxuryhomes.com\/?p=8188","title":{"rendered":"Should You Still Buy a Home with the Latest News About Inflation?"},"content":{"rendered":"
\n

\"Should<\/p>\n

While the Federal Reserve<\/em> is working hard to bring down inflation<\/a>, the latest data shows the inflation rate<\/a> is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire for conversations about a recession.<\/span><\/p>\n

You\u2019re likely feeling the impact in your day-to-day life as you watch the cost of goods and services climb. The pinch<\/a> it\u2019s creating on your wallet and the looming economic uncertainty may leave you wondering: \u201cshould I still <\/em>buy a home<\/em><\/a> right now?\u201d<\/em> If that question is top of mind for you, here\u2019s what you need to know.<\/p>\n

Homeownership Is Historically a Great Hedge Against Inflation <\/strong><\/h4>\n

In an inflationary economy, prices rise across the board. Historically, homeownership is a great hedge against those rising costs because you can lock in what\u2019s likely your largest monthly payment (your mortgage) for the duration of your loan. That helps stabilize some of your monthly expenses. James Royal, Senior Wealth Management Reporter at Bankrate<\/em>, explains<\/a>:<\/p>\n

\n

\u201cA fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment.<\/strong> Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.\u201d<\/em><\/p>\n<\/blockquote>\n

And with rents<\/a> being as high as they are, the ability to stabilize your monthly payments and protect yourself from future rent hikes may be even more important. Lawrence Yun, Chief Economist at the National Association of Realtors<\/em> (NAR), explains<\/a> what happened to rents in the latest inflation report:<\/p>\n

\n

\u201cInflation refuses to budge. In September, consumer prices rose by 8.2%. Rents rose by 7.2%, the highest pace in 40 years<\/strong>.\u201d<\/em><\/p>\n<\/blockquote>\n

When you rent, your monthly payment is determined by your lease, which typically renews on an annual basis. With inflation high, your landlord may be more likely to increase your payments to offset the impact of inflation. That may be part of the reason why a survey<\/a> from realtor.com<\/em> shows 72% of landlords said they plan to raise the rent on one or more of their properties in the next year<\/strong>.<\/p>\n

Becoming a homeowner, if you\u2019re ready and able to do so, can provide lasting stability and a reliable shelter in times of economic uncertainty.<\/p>\n

Bottom Line<\/strong><\/h3>\n

The best hedge against inflation is a fixed housing cost. If you\u2019re ready to learn more and start your journey to homeownership, let\u2019s connect.<\/p>\n

Content previously posted on Keeping Current Matters<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

\"ShouldWhile the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still high, remaining around 8%. This news impacted the stock market and added fuel to the fire for conversations about a recession. You\u2019re likely feeling the impact in your day-to-day life as you watch the cost [\u2026]<\/div>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","footnotes":""},"categories":[3,88,84,86,89,125],"tags":[],"class_list":["post-8188","post","type-post","status-publish","format-standard","hentry","category-blog","category-first-time-home-buyers","category-for-buyers","category-housing-market-updates","category-move-up-buyers","category-rent-vs-buy"],"_links":{"self":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8188"}],"version-history":[{"count":0,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=\/wp\/v2\/posts\/8188\/revisions"}],"wp:attachment":[{"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.sfloridaluxuryhomes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}