I saw this post on Drudge this morning, one solitary post surrounded by a peppering of headlines about the World Bank running out of money and California being the first state to fail, etc.
All the other posts could be pointing to the catalysts for inflation coming our way, as I have written about here before. Whether that comes to pass or not, only time will tell. In the meantime, we are in one of the best buyers markets we have seen in a long, long time.
As noted in Ms. Beck’s article, especially big items - like cars and homes – are on sale right now. We have not seen the likes of this in decades.
Just one example among many that I could list: Today I have a buyer closing on a town home that they are buying for $66,000. It sold two years ago for $149,000, and is in move-in, very nice condition. That’s a 56% discount. Couple that with low FHA and conventional mortgage rates in Georgia, and if you have the means and income to buy, then the “Affordability Index” is the highest it’s been since that index began tracking, in 1970.
And I am seeing deals like that across every price point. A 30-60% discount is one I would jump on, especially when you can finance the home with an Atlanta FHA loan. Maybe you should, too?