Elon Musk News Has Little Effect on Douglasville Real Estate
By Bion Grady, Douglas County Real Estate Specialist
(Maximum One Greater Atlanta Realtors)
Last week, Elon Musk was in the news again—this time for a housing prognostication that immediately prompted sharp counters from industry experts. Twitter’s new owner tweeted that he expected the hard times currently being experienced in the commercial real estate sector would be followed by the same result in the residential sector. If his crystal ball is clearer than it was when he paid twice its true value for Twitter, Douglasville real estate could get the fallout along with the rest of the industry.Musk reasoned that banks now face mounting risks due to commercial real estate’s failure to repopulate office buildings following the pandemic—and that risk-averse bankers might raise mortgage rates to homebuyer-repelling levels. Certainly, that’s possible. On the other hand, there is la...