The National Association of Home Builders (NAHB) claims that:

As housing, energy, and food costs continued to rise at the quickest rate in decades, consumer prices increased once more in May. This was the biggest annual gain since December 1981 and the third consecutive month that inflation was above 8%.

One of your largest monthly expenses is made more stable by owning a home.

Your housing costs, which are often your largest monthly expense, can be stabilized by purchasing a property. With a fixed-rate mortgage, your monthly payment is fixed for the loan's term, which is typically 15 to 30 years. Bankrate's James Royal, a senior wealth management reporter, says:

“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same. That’s certainly not the case if you’re renting.”

Purchasing a Stock that Has Historically Outperformed Inflation

Even if it's true that buying a home now costs more than it did even a few months ago due to rising housing prices and increased mortgage rates, you still have the chance to position yourself for a long-term advantage. This is because investing in an asset that exceeds inflation and often maintains or increases in value is a good idea during periods of high inflation.

Due to the persistent supply and demand imbalance, economists predict property prices will continue to rise in the future. Any increase in the value of your home after you purchase it will increase your equity and net worth. You may rest easy knowing that your investment is sound because homes are typically assets that increase in value.

Therefore, if you can, it makes sense to purchase now before costs increase more.

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