Home prices have been escalating, not just during the pandemic but since housing prices started recovering in 2012. Price growth has greatly outpaced wage growth throughout the years causing our home affordability issue to grow rapidly.
There is an extremely limited supply of houses in Atlanta, along with many people relocating here and more young people looking to buy. In short, I strongly believe Atlanta is not in a bubble and the demand will continue to grow.
On another note, there are about 2.2 million homeowners in forbearance nationally and the CFPB are not allowing servicers to initiate forclosures until 2022. This will definitely have a tremendous impact on real estate markets including Atlanta. I’ll be releasing videos on this soon.
How do you feel about the market and what do you think could happen?