A home is still a great idea

Well, it was 40 years ago that we were deeply embroiled in the Watergate scandal and President Nixon’s top aides were indicted by the Grand Jury. The price of gas went from 29 cents to 42 cents per gallon, the average car cost $3,750, a house $10,990, and a year’s pay $13,900. How does that compare today? US median income is $51,371, a car $32,000, gas $3.44 a gallon and a house $152,000. My conclusion? Buying a home (even with the bubble) is still a fabulous investment. While income went up 370% home values went up 1380%; that’s big profit in your pocket! (Sadly the speed limit is still 55 MPH)