What's one thing we all need to be concerned about?
We're starting to see inflation rise across many spectrums of the economy. And it is a little bit unnerving when we look at it. Inflation has actually crossed the 2% threshold it's actually past 4% right now.
It's different every month, but it's rising fast across all kinds of asset classes and employment. We're starting to see that real, serious pressure on wages. And a lot of wages have driven up.
We now have more job openings in our country than we've ever had recorded before. Think about what I just said: Job openings are wide open.
This idea that we have an unemployment rate is almost ridiculous because every American -- based on the amount of openings right now -- could be employed. They're choosing not to be employed in some areas or they're choosing not to go to work because of wages or whatever. But in a lot of areas, there's not just enough jobs, there's too many jobs, which causes wages to rise.
Along with that, prices are rising on all kinds of things — lumber and appliances, you name it, things are rising.
Why should that concern us?
It should concern us if we have a $100k in the bank and we just leave it in the bank. When you have higher inflation, every year that $100k is worth less money.
So that's the danger, but here is the benefit for us in our industry:
One of the best hedges you can have against inflation is owning your asset class. Your asset class of real estate. Because as inflation kicks in, guess what goes up in price?
Real estate — rents go up and home prices go up in tandem (and sometimes surpassing inflation).
We're actually seeing home prices that have far surpassed inflation for the last several years. This is a hedge against inflation.
When you have anybody in your friends circle or your Sphere of Influence that starts talking about their fear of inflation and they start talking about buying gold or silver, talk to them about buying real estate as that ultimate hedge.
Not only do you get a hedge against inflation, but you get tax benefits and unlock the power of leveraged money, which helps you build wealth faster.
Real estate is the wealth-building tool that's enabled 80% of millionaires to earn their first million. So when we look at that, it's one of the best things we can possibly do, especially in a little bit of a nerve-wracking market that we're starting to enter into where high inflation may be starting to kick in.
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