When the Prophet Says Buy. BUY!
Posted by Rick Turner on Thursday, February 2nd, 2012 at 6:55pm.John R. Talbott, previously a Goldman Sachs investment banker, is a bestselling author and economic consultant. When it comes to the housing market he is also a prophet. When housing prices started to skyrocket in 2003, he published The Coming Crash in the Housing Market, correctly warning us that a real estate bubble was forming. Then in January 2006, he called the abolute peak of home prices in the US by releasing a new book, Sell Now! The End of the Housing Bubble.
Mr. Talbott, the person who accurately predicted the housing bubble and its bust, now has a new prediction - IT IS THE TIME TO BUY A HOME! In a recent article, Homes - Buy Now!, Talbott simply explains:
"I have been waiting for more than five years to offer this advice. It is now time tin most cities across the country to buy a home or refinance your existing home with thirty-year fixed rate mortgage debt."
He goes on to explain that his conclusion is based on four different metrics, all of which favor buying today:
- Home prices relative to peak prices during the bubble.
- Home prices relative to construction costs or replacement costs.
- Home prices relative to incomes and rents.
- Home prices in real terms, not US dollar terms.
The Bottom Line
If the person who called the real estate bubble and its bust says now is the time to buy, it probably is the time to buy.
Source: KCMBlog.com, 1/9/2012
Is it time to buy on Hilton Head Island or Bluffton? Has the Hilton Head Island/Bluffton real estate market stabilized? Some areas like Manhattan and Washington, D.C. have bottomed out and are on their way back up. Other areas are not so fortunate yet. If you would like the facts on the stability of the Hilton Head real estate market is, click here.
If you ever want to own in the area, this winter literally may be the best time EVER to purchase! Go to our Advanced Search Page, take a look around, pick out some properties of interest and email us with your questions or plans for a visit.
Mobile: 843-816-0796
Search Engine: www.HiltonHeadRealEstateSearch.com
Website: www.RickTurnerAndAssociates.com
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When the Prophet Says Buy. BUY!
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