newsletter | November 11, 2022 Well Aren't These Interesting Times.
Interest rates are going 📈; the crypto markets are in free-fall 📉; Meta just laid off 11,000 employees. Why does it never feel like a good time to buy a house? Three things to remember amid the crazy headlines:
(1) The average 30yr mortgage since 1971 is 7.8%. Rates right now are normal. Plus, there are programs to get you rates in the 5s…
(2) The housing shortage is real and shows no signs of reversing.
(3) Napoleon's definition of a military genius is "The man who can do the average thing when everyone else around him is losing his mind." Same in investing - especially in times like this.
In my 25 years of real estate investing, I've always been a “get the property” kind of guy. A great buy is a great buy in an up or down market. We just have to get strategic about financing, because the free money has dried up.
My top articles, books, and quotes of the week are linked below.