WILMOTH Group – June 2020 Company Update

WILMOTH Group - June 2020 Company Update

Should I Invest in Atlanta?

So, it is likely you are curious why we would suggest investing in a big southern Georgia city. Well, sorry to confuse you but not THAT Atlanta! There is another Atlanta… Atlanta Indiana. Sitting 45 miles north of downtown Indiana, this little town of just less than 1000 people offers a rural lifestyle that may just be what a significant portion of the population is interested in for their next home.

The Pandemic has many people ready to leave urban living. If not Atlanta, Indiana, even suburbs closer to the city with a few more amenities. With increasing acceptance of remote working, and the fact that COVID-19 virus hit urban areas much harder than rural, the possibility of a shift in where we live is realistic.

As you consider your next investment, it is possible this is a trend to consider. Realistically, in a year the thought of owning in Atlanta, IN may seem silly. Who can really say? Popular opinion seems to say this is not so pie-in-the sky as it may sound.

Another reason demand may grow out of the cities is the movement of young adults back into their parents homes. According to Zillow, 1.4% of the US rental market (2.7 million 18-25 year olds) have moved back with their parents in the last three months! Many of these parents live in suburbs or even rural locations. What is the chance these young people decide the lifestyle their parents chose is not so bad after all?

Government Mortgages Eviction Moratorium Extension

In another not-so-friendly move for already hurting landlords, the eviction moratorium for owners with government-backed mortgages has been extended. On Thursday, it was announced that the original moratorium, scheduled to end June 30, has now been extended 60 days! The extension also includes foreclosures on government loans. So at least if you have chosen not to pay your mortgage, because your tenant is not paying their rent, you don’t have to fear foreclosure for another 60 days.

At this time we are still hopeful the Indiana eviction moratorium will be ending June 30. We won’t be surprised if it does not though based on the above.

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