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Let's Lift The Burden Off You.. - Properties - Nairaland

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Let's Lift The Burden Off You.. by sternakin(m): 1:55pm On May 21, 2020

My simple knowledge of economics tells me that the forces of demand and supply determines the price of a commodity. The law of demand and supply simply states that " the higher the demand for a commodity the higher the price and the higher the supply of a commodity, the lesser the price".

Going by the present coronavirus pandemic ravaging the entire world with its resultant effects on the global economy of which Nigeria is not exempted as evident by sharp decline in prices of crude oil accross the globe, huge numbers of job losses, up to about 40% cut in workers salaries, and the list continues. The ripple effect of all these shall purely result into down turn in financial purchasing power by the citizens leading to low demand for most commodities and increase in supply thereby compelling sellers to reduce prices up to about 30% or more.

Landed properties are most likely to be affected by the above described assertions and thus, making this period the appropriate time for real investors to buy properties owing to the fact that most sellers shall be willing to cut off prices for financially capable buyers rather than holding on endlessly most especially now that most sellers need to raise capital for varying dear purposes.

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