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I’m writing in response to Tom Hill’s “What about Inflation?” letter.
Tom, wake up and smell the coffee! Prices have already started to fall! Rich’s article gave the homeowner an amazingly “cheerful” scenario, in the real world the homeowners cost would be even higher; he didn’t even add in a homeowners association fee n I live downtown and these run between $200-$700 a month, most suburban developments also have some type of fee.
And if we are giving the homeowner the benefit of the doubt, lets say the renter put his $7200 savings into an investment with a average return, now his $7200 has appreciated, something that is very unlikely to happen for the homeowner. Are you saying that a financial guru would always say real estate prices are tied to the inflation rate?