When the Prophet Says Buy – BUY!
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 absolute 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 in most cities across the country to buy a new 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
Bottom Line
If the person who called the real estate bubble and its bust says now is the time to buy, we believe it is time to buy.
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I’ve been telling my clients this for the last 7 weeks. Hopefully they will listen to such a seasoned advisor and financial expert.
The price is right and the intrest rate has never been lower. That is my advice, BUY NOW.
Bill Shelton
Steve does it again. Thanks so much for the link to John R Talbott’s blog post …..”Homes – Buy Now!” Every REALTOR in America should be sharing this with everyone in their database and have copies to give to every prospect they encounter.
I don’t know whether it’s just me or if perhaps everyone else
experiencing problems with your blog. It appears as though some of the written text on your content are running
off the screen. Can somebody else please provide feedback and let
me know if this is happening to them as well?
This might be a issue with my internet browser because I’ve had this happen before.
Thanks