Show Notes
8% mortgage rates are now on the table, and unfortunately, that’s not even the high end of estimates for where we’re going next. With bond yields hitting 20-year peaks and no end in sight for rising inflation, we may be stuck here for a while. If you’re starting to sweat, don’t worry—we are, too. Thankfully, it’s not all bad news for the housing market, because those who pivot will profit.
After a little too much anxiety, Dave called James and Kathy to get their read on mortgage rates—what does an investor do when refinancing is off the table, selling means cutting prices and concessions, and even renovating is still so expensive? The housing market is splitting, with some sides doing great, and the others struggling to survive.
James gives his full take on how flips, renovations, and BRRRRs are doing right now, plus why he’s still excited for what is about to come in winter. Kathy is loving the builder concessions that are only getting more plentiful as rates rise, with a surprising rental helping float her portfolio. Dave is still a bit nervous and asks: should he sell the house he’s living in?
Buyers, this winter is about to be a big one. Sellers, it’s time to prepare. Investors, look at your property plans immediately after this episode.
In This Episode We Cover
The case for 8% mortgage rates (or even 11%-12% rates in the near future!)
Why we (probably) still won’t see a housing crash scenario
How to change your investment property plan if refinancing or selling was your exit
It’s about to be a “dead winter” for sellers, but what about for buyers?
Should Dave sell his own home and go back to renting? (serious question!)
And So Much More!
Links from the Show
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On The Market 461 - You’re Not Gonna Like What Happens to Mortgage Rates
Dave's BiggerPockets Profile
James' BiggerPockets Profile
Kathy's BiggerPockets Profile
HousingWire: Mortgage rates: 8%, 6% or the base case?
Grab the Book, Recession-Proof Real Estate Investing
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