Suze Orman's Home Mortgage Basics
O, The Oprah Magazine | From the Spring 2007 issue of O, The Oprah Magazine
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Rule #5: Be realistic. We all know that real estate was on a tear until very recently; in some parts of the country, home values jumped more than 20 percent a year. That is not normal, and it is not sustainable. I want everybody to read this very carefully: Over the long term, you should expect your home's value to rise at a rate that slightly exceeds inflation. It's a solid investment, but not one on which you should expect to retire. Don't think that just because your home's value has had a great run you don't need to invest in your 401(k) and Roth IRA plans. Be better prepared than that. More from Suze Orman |
