Bigworld, Sounds like a good plan. With the recession and higher mortgage rates, the prices should come back down. Prices in NC already seem like a great deal, with low taxes, but there are also some pricey areas, and getting a nice amount of acreage adds to the price.
Now they are saying Covid cases are moving back up due to Omicron #4 and #5, so could be it never ends, the new normal. But inflation 'may' have peaked since today's 9.1% figure doesn't count the recently weaker oil and grain prices. The Core PCE, which is the main stat the Fed uses, peaked in Feb/Mar and has been declining since (link below). Core PCE strips out the food and energy costs, so gives a more accurate idea of the core background inflation. The June number won't be out until late July though.
As you said, all the markets are tough to gauge right now. Gold/silver broke support, especially silver, so will see where things settle out. Probably a good buying opportunity for investors who are light on their metals allocation. I'm already in at 10% and 3%, so am reluctant to add much more, though might start averaging in on some of the miners.
Fwiw, I re-started my 1 share/day purchases in the S+P 500, alternating between SPY and VOO. The idea will be to re-build a modest allocation in stocks over the next 6-12 months. If we have a repeat of the 1970s stagflation scenario, I figure we might not get a selling capitulation, but more of a gradual grind down, and this will suit an averaging in strategy. So far I'm only back in with $2500, and will add ~ $1800 per week to the stock side, so at least it's a start.