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June 19th, 2008 8:25 AM by David W. Welch
Gas prices are up, the Mississippi river is up, inflation is up, and the ante on presidential politics is up. If you remember the 70's, this probably seems a bit familiar. Gas prices were not skyrocketing, but you could not find gas to buy. Inflation and mortgage rate were running in the double digits and unemployment was close behind. They called it the misery index when you added the unemployment rate to the inflation rate. Our troops were in Vietnam, but there was the hostage crisis in Iran. The Munich Olympics, Watergate, China, and the Cold War was quite hot during this time.
We got through those tough times, and we will get through these. After all inflation remains relatively low, but the Fed is watching it closely. Food and fuel costs have skyrocketed, but core inflation remains below 3%. Mortgage rates are still running in the low 6% range, and unemployment is around 5.5%. Read the Bible, there will always be unrest in the Middle East, at least until Jesus comes back. The Iron Curtain has come down, and the Olympics are actually in China this summer. With fuel prices where they are, maybe we will finally put some serious efforts toward alternative renewable sources of energy.
If you really want to help. Buy a home. It stimulates your local economy. It makes more sense in the long run for your financial security. Don't buy a home as an investment for a quick turnaround, unless you are an experienced investor. Buy a residence to make it your home. If your are looking in the Orlando area, give me a call. I would love to help you with your purchase. 407-924-7670