Newspapers / Winston-Salem Chronicle (Winston-Salem, N.C.) / June 25, 1992, edition 1 / Page 42
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Home ownership has more than dollar value People have always had an innate fascination with ? and need for ? homes. They want to see them, touch them, retreat them, and own them because a home fulfills more than just the basic need for shelter. It provides intangible benefits such as emotional . security, a safe haven to raise a family and a solid foundation for pursuing a family's social goals. In addition to the emotional and social benefits of owning a home, there also are some very practical financial benefits for home owners. - The single largest investment that most people will ever make, houses generally increase in value over a peri od of years providing a substantial nest egg for retirement, education or emer gencies. Over time, housing has been a safe, steady, and profitable investment. Over the last 20 years, the median price of new homes has increased at an over all rate that is greater than the Dow Jones stock market average. Perhaps even more important, the rise has been steady ? especially compared to stock prices. Home ownership has proven itself as an effective hedge against inflation. Between 1970 and the end of 1991, the median price of an existing home rose nearly 300 percent, compared to a 250 percent increase in the Dow Jones Average. Over the past 50 years, the value of houses has increased at a rate slightly above the nation's inflation rate and that trend is likely to continue in the future. Of course there will be regional varia tions and even variations within mar kets, but overall, increases in home val ues should continue to follow the infla tion rate closely. There are also other home owner ship benefits to consider ? taxes and leveraging. The interest you pay on your mortgage is tax deductible. Leveraging is investing a comparably small amount of your money as a down payment while realizing an increase in appreciation based on the full value of the house. America's 60 million plus home owners have very little to worry about in the stability of their investment The total value of owner occupied housing is more than $4 trillion, accounting for about one fourth of our nation's total wealth. mm :>X;X tfict Sue mmamm BB&T It's MareThan A Bank. It's An Attitude! Smcel872 Member FDIC Equal Homing Under (if
Winston-Salem Chronicle (Winston-Salem, N.C.)
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June 25, 1992, edition 1
42
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