According to a recently released report by Henley & Partners on the world’s wealthiest cities, the Bay Area boasts more billionaires than any metropolitan area in the world. And we’re number two in millionaires. Check out the report to get all the numbers.
As COVID eviction moratoriums expire up and down the state, investment in rental properties is on the rise and back to pre-pandemic levels. Meanwhile, the wages and wealth of renters have remained pretty much stagnant for the better part of this century, while homeowners have seen a surge in their net worth since the early 90s, despite the housing bubble bursting in 2007-08.
Did you know? 90% of millionaires made their money through real estate. Whether you’re a first-time buyer or a seasoned investor, homeownership can help you secure a healthy financial future for you and your family!
We are in the midst of a global economic re-awakening, with at least 56 nations currently experiencing inflation above 4%. As a point of comparison, the U.S. inflation rate in 2008 was 3.84%; but it has risen as high as 11% in 1974 and 13.55% in 1982!
So, what causes inflation? There are three types: demand-pull inflation – when the demand for goods and services increases quicker than production capacity; cost-push inflation – the result of an increase in the cost of production and labor; and built-in inflation – driven by standard cost of living increases.
Of course, there are two sides to every coin. Just as inflation may have a negative impact on renters and those without a lot of assets, it can help homeowners and landlords access additional wealth as their property values rise.
