John Hunt keeps a close eye on the housing market.
As founder of Via Search, Hunt deals in market research for real estate companies and spoke of how since 2003 the bottom has fallen completely out of the market. A big part of the problem, Hunt told the Walton-Barrow Board of Realtors Tuesday, is in the Atlanta area. From 2003-2007 lot prices doubled in the Atlanta area and Hunt said under normal circumstances it would have taken 20 years for that to happen.
“New homes are so far higher than retail property that people stopped buying homes,” Hunt said.