{"id":171223,"date":"2024-04-26T12:46:08","date_gmt":"2024-04-26T18:46:08","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=171223"},"modified":"2024-06-27T08:06:16","modified_gmt":"2024-06-27T14:06:16","slug":"a-robust-economy-is-wrecking-real-estate-opportunities","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/a-robust-economy-is-wrecking-real-estate-opportunities","title":{"rendered":"Economic Surge, Housing Plunge: Why Economic Growth Is Wrecking Real Estate Opportunities"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm\/?e=BIGPOC5828647801\" width=\"100%\"><\/iframe>\r\n  \n\n\n\n\n<p><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/what-is-a-mortgage\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Mortgage<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;rates recently&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.nytimes.com\/2024\/04\/18\/business\/mortgage-rates.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">rose above 7%<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;for the first time this year, bringing an already glacial housing market to a standstill. The news has hit investors like a horror movie jump scare after we&#8217;d thought the worst was behind us.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">A robust economy is partly to blame. During the pandemic, when U.S. citizens feared rationing and mass unemployment, predicting our current economy would have been almost unthinkable.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In March, U.S. employers added over 300,000 jobs, and the Labor Department also reported that the unemployment rate had dipped from 3.9% to 3.8%, having remained below 4% for 26 straight months, the longest winning streak in over 60 years.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">So, more<\/span><span data-preserver-spaces=\"true\">&nbsp;jobs mean more money and&nbsp;<\/span><span data-preserver-spaces=\"true\">more<\/span><span data-preserver-spaces=\"true\">&nbsp;real estate deals, right?<\/span><span data-preserver-spaces=\"true\">&nbsp;Wrong.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">We&#8217;ve Gone From Five Potential Interest Rate Cuts to Maybe One<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">As we know, inflation is the cause of&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/investors-stop-worrying-about-rates-in-2024\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">high interest<\/span><span data-preserver-spaces=\"true\">&nbsp;rates<\/span><\/a><span data-preserver-spaces=\"true\">.&nbsp;<\/span><span data-preserver-spaces=\"true\">It still stands<\/span><span data-preserver-spaces=\"true\">&nbsp;at a stubborn 3.5%&nbsp;<\/span><span data-preserver-spaces=\"true\">after the rate hikes<\/span><span data-preserver-spaces=\"true\">&nbsp;(after coming down from 9% post-pandemic, the Federal Reserve is aiming for 2%).<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The robust economic outlook is the equivalent of letting the Fed have its cake and eat it, too. Had the economy stuttered, there would have been good reason to believe that the rate hike had a detrimental effect on businesses and that it was time to start lowering them. However, the opposite has happened, and real estate investors who might have hoped for five or rate cuts this year now have their fingers crossed that there will be one.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">&#8220;They&#8217;ve got the economy right where they want it,\u201d Mark Zandi, chief economist at Moody&#8217;s Analytics, told&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.cnbc.com\/2024\/04\/17\/wall-street-pushes-out-rate-cut-expectations-sees-risk-of-no-action-until-2025.html\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">CNBC<\/span><\/a><span data-preserver-spaces=\"true\">. \u201cThey are now just focused on inflation numbers. The question is, what&#8217;s the bar here?&#8221;&nbsp;<\/span><span data-preserver-spaces=\"true\">My sense is<\/span><span data-preserver-spaces=\"true\">&nbsp;they need two, probably three consecutive months of inflation numbers&nbsp;<\/span><span data-preserver-spaces=\"true\">that are<\/span><span data-preserver-spaces=\"true\">&nbsp;consistent with that 2% target.<\/span><span data-preserver-spaces=\"true\">&nbsp;If that&#8217;s the bar, the earliest they can get there is September.&nbsp;<\/span><span data-preserver-spaces=\"true\">I&nbsp;<\/span><span data-preserver-spaces=\"true\">just<\/span><span data-preserver-spaces=\"true\">&nbsp;don&#8217;t see rate cuts before that.\u201d<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Bank of America economist Stephen Juneau concurred, saying in a client note:&nbsp;<\/span><\/p>\n\n\n\n<p><em><span data-preserver-spaces=\"true\">\u201cWe think policymakers will not feel comfortable starting the cutting cycle in June or even September. In short, this is the reality of a data-dependent Fed. With the inflation data exceeding expectations to start the year, it comes as little surprise that the Fed would push back on any urgency to cut, especially given the strong activity data.\u201d<\/span><\/em><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Many Renters Have Given Up on Owning a Home<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">High interest<\/span><span data-preserver-spaces=\"true\">&nbsp;rates have put real estate investors between a rock and a hard place.&nbsp;<\/span><span data-preserver-spaces=\"true\">Wait for rates to drop<\/span><span data-preserver-spaces=\"true\">, and a<\/span><span data-preserver-spaces=\"true\">&nbsp;lack of inventory could raise house prices.<\/span><span data-preserver-spaces=\"true\">&nbsp;Buy an investment at a high interest rate&nbsp;<\/span><span data-preserver-spaces=\"true\">now<\/span><span data-preserver-spaces=\"true\">&nbsp;and kiss&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/rental-property-cash-flow-analysis\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">cash flow<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;goodbye, potentially putting investors in a tough spot once vacancies and repairs&nbsp;<\/span><span data-preserver-spaces=\"true\">are factored in<\/span><span data-preserver-spaces=\"true\">.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Many renters have given up on the idea of ever owning a home, according to a January survey by property management firm&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.entrata.com\/press\/has-the-american-dream-changed-new-report-from-entrata\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Entrata<\/span><span data-preserver-spaces=\"true\">,<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;which<\/span><span data-preserver-spaces=\"true\">&nbsp;found that 20% of those surveyed don&#8217;t expect to ever own a home, a 33% increase from 2021. Many of these renters are financially stable and could afford a home if they wanted, but prefer the flexibility renting offer<\/span><span data-preserver-spaces=\"true\">s\u2014p<\/span><span data-preserver-spaces=\"true\">articularly with job uncertainty and remote work.<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">A February survey by&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.opendoor.com\/articles\/from-Boomer-to-Gen-Z-The-mortgage-rates-that-could-get-Americans-moving\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Opendoor Brokerag<\/span><span data-preserver-spaces=\"true\">e<\/span><\/a><span data-preserver-spaces=\"true\">\u2014a<\/span><span data-preserver-spaces=\"true\">&nbsp;technology firm specializing in buying and selling real estat<\/span><span data-preserver-spaces=\"true\">e\u2014r<\/span><span data-preserver-spaces=\"true\">evealed that 46% of renters would not consider buying a home unless rates fell below 5%.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">A Buying Pause Is a Golden Opportunity<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">However, simply waiting for rates to fall below 5%\u2014which, let&#8217;s face it, currently seems about as likely as finding peace in the Middle East\u2014does not mean there will be an abundance of homes to purchase. There is still a chronic shortage of inventory.&nbsp;<\/span><span data-preserver-spaces=\"true\">It&#8217;s estimated<\/span><span data-preserver-spaces=\"true\">&nbsp;the U.S. currently has a shortfall of over&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/nypost.com\/2024\/02\/28\/real-estate\/the-us-housing-supply-is-short-7-2-million-homes\/#\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">7 million homes<\/span><\/a><span data-preserver-spaces=\"true\">. It will take a long time for builders to fill that gap.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Current homebuyers are buying because they need to\u2014after new babies, new jobs, or divorces. This pause in the market and increase&nbsp;<\/span><span data-preserver-spaces=\"true\">of<\/span><span data-preserver-spaces=\"true\">&nbsp;long-term renters means that there has probably never been a better time in recent years for savvy investors to buy. However, in the current market,&nbsp;<\/span><span data-preserver-spaces=\"true\">it can only be done<\/span><span data-preserver-spaces=\"true\">&nbsp;with a long-term goal&nbsp;<\/span><span data-preserver-spaces=\"true\">in mind<\/span><span data-preserver-spaces=\"true\">.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Practical Moves to Get Your First Investment Property<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Despite the high rates, there are some practical moves new investors can make now to put themselves in a good position for the future.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">A caveat:<\/span><span data-preserver-spaces=\"true\">&nbsp;None of these ideas are new or involve assuming a mortgage, creative financing, or liquidating assets. Neither are they reliant on a super-high income or loans from wealthy family members.&nbsp;<\/span><span data-preserver-spaces=\"true\">And<\/span><span data-preserver-spaces=\"true\">&nbsp;most are not easy options for&nbsp;<\/span><span data-preserver-spaces=\"true\">everyday<\/span><span data-preserver-spaces=\"true\">&nbsp;working middle-class Americans with jobs and limited time&nbsp;<\/span><span data-preserver-spaces=\"true\">who are<\/span><span data-preserver-spaces=\"true\">&nbsp;looking to shore up their financial future by owning rental real estate.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Rent, don&#8217;t buy a personal&nbsp;<\/span><span data-preserver-spaces=\"true\">home<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">If you are contemplating buying a home for yourself or a rental, adding personal debt with a high-interest rate mortgage won&#8217;t help your investment chances.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">According to a recent&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.lendingtree.com\/home\/mortgage\/comparing-rent-vs-owning-a-home-in-nations-largest-metros\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Lending Tree<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;study,&nbsp;<\/span><span data-preserver-spaces=\"true\">it&#8217;s currently cheaper to rent<\/span><span data-preserver-spaces=\"true\">&nbsp;in many markets than&nbsp;<\/span><span data-preserver-spaces=\"true\">buy<\/span><span data-preserver-spaces=\"true\">. Renting will not only help your&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/how-to-calculate-debt-to-income-ratio\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">debt-to-income ratio<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;when qualifying for a mortgage on an investment property<\/span><span data-preserver-spaces=\"true\">,&nbsp;<\/span><span data-preserver-spaces=\"true\">but also enable you to make a&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/down-payment\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">down payment<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;on an investment, increasing its chances of cash flow.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Increase your income<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">A higher income offsets the financial hurdles of being a landlord while also helping you qualify for a better mortgage rate.&nbsp;<\/span><span data-preserver-spaces=\"true\">Whether you need to Airbnb a room or two in your&nbsp;<\/span><span data-preserver-spaces=\"true\">personal<\/span><span data-preserver-spaces=\"true\">&nbsp;residence, aim for a promotion at work, or take on some&nbsp;<\/span><span data-preserver-spaces=\"true\">kind of<\/span><span data-preserver-spaces=\"true\">&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/money-520\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">side hustle<\/span><\/a><span data-preserver-spaces=\"true\">, having more money has never been a better problem solver.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Lower your expenses<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">Another easier-said-than-done piece of advice, but this goes hand-in-hand with increasing income. No one&nbsp;<\/span><span data-preserver-spaces=\"true\">is expecting<\/span><span data-preserver-spaces=\"true\">&nbsp;you to adopt the brutal austerity moves of the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/the-dirty-little-secret-of-the-fire-movement-and-why-its-good-news\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">FIRE movement<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;and altogether forgo a trip to Starbucks now and again.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lowering expenses could mean moving to a more affordable location\u2014a must if you&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/the-real-world-impacts-on-remote-work-and-what-it-did-for-investors\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">work remotely<\/span><\/a><span data-preserver-spaces=\"true\">\u2014or forgoing eating out or pricey trips. It could also mean moving in with a family member or having roommates. Calculate how much money you need to start your investment journey, and work backward from there to make it happen.<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">House-hack<\/span><span data-preserver-spaces=\"true\">&nbsp;a&nbsp;<\/span><span data-preserver-spaces=\"true\">small multifamily&nbsp;<\/span><span data-preserver-spaces=\"true\">investment<\/span><\/h3>\n\n\n\n<p><span data-preserver-spaces=\"true\">This old-school method&nbsp;<\/span><span data-preserver-spaces=\"true\">puts<\/span><span data-preserver-spaces=\"true\">&nbsp;a roof over your head and allows you to qualify for an FHA 3.5% down loan. The money you save on paying for rent or a personal loan by having your tenants pay some or all of your mortgage is equivalent to having a cash-flowing investment property. It&#8217;s an ideal building block&nbsp;<\/span><span data-preserver-spaces=\"true\">to launch<\/span><span data-preserver-spaces=\"true\">&nbsp;your investment career.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Final Thoughts<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Although many seasoned real estate investors&nbsp;<\/span><span data-preserver-spaces=\"true\">are quick to<\/span><span data-preserver-spaces=\"true\">&nbsp;cite that interest rates were over 7% 20 years ago, the headwinds facing investors today are that wages have not kept pace with house prices or rents. That means the nation is increasingly&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/nlihc.org\/gap\/about#:~:text=A%20household%20is%20cost-burdened,%25%20are%20severely%20cost-burdened.\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">cost burdened<\/span><\/a><span data-preserver-spaces=\"true\">, spending more than 30% of its monthly income on housing.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">That is both a gift and a curse for new investors looking to buy their first rental. It&#8217;s a gift because the tenant pool is expanding, and there is limited investment competition.&nbsp;<\/span><span data-preserver-spaces=\"true\">It&#8217;s a curse because&nbsp;<\/span><span data-preserver-spaces=\"true\">it is tough to get<\/span><span data-preserver-spaces=\"true\">&nbsp;on the other side of the fence&nbsp;<\/span><span data-preserver-spaces=\"true\">and find<\/span><span data-preserver-spaces=\"true\">&nbsp;a&nbsp;<\/span><span data-preserver-spaces=\"true\">good<\/span><span data-preserver-spaces=\"true\">&nbsp;rental property in a high-interest rate, low-inventory market.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Becoming an investor now\u2014without creative financing, wealthy relatives, or hitching your hopes to a guru or syndicator\u2014comes down to&nbsp;<\/span><span data-preserver-spaces=\"true\">basic<\/span><span data-preserver-spaces=\"true\">&nbsp;saving, cost-cutting, and being educated about the existing&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/business\/finder\/lenders\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">loan products<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;available to help you get started.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">In short, it means doing what many others&nbsp;are&nbsp;not prepared&nbsp;to do.&nbsp;There&#8217;s no magic bullet, but it&#8217;s doable. It comes down to making tough choices to succeed.<\/span><\/p>\n\n\n\n    \n  <div id=\"visibility-group-block_e3e97047e42aebd698b3088ff73e3b98\" class=\"visibility-group  hidden\">\n        \n\n<div id=\"hero-block_2e0c94b4500fa40d2f0d0b9ecf9f2f9f\" class=\"first:mt-0 hero-block py-4  alignwide   has-background has-theme-gold-light-background-color has-text-color has-theme-gold-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-theme-gold-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Get the Best Loan Today<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-slate-900-color has-text-color\" style=\"font-size:16px\">Find trusted, <em><strong>investor-friendly<\/strong><\/em> lenders who specialize in your strategy. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<div id=button-custom-event-block_dcdf7be353724df88d08b710f8762bee class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/business\/finder\/lenders\" x-on:click=\"window.analytics.track(&#039;Blog Block | B2C Marketplace Lender Finder&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/a-robust-economy-is-wrecking-real-estate-opportunities&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-gold-background-color has-text-color has-white-color\" target=\"_blank\">Find a Lender<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\" first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/08\/Marketplace-Blog-Blocks-Lender-v3.png\" alt=\"investor friendly lender, investor friendly real estate loans\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>\n\n  <\/div>\n  \n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n    \n  <div id=\"visibility-group-block_64dd31c79f00f\" class=\"visibility-group  \">\n        \n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div id=\"hero-block_64dd2875dba9d\" class=\"first:mt-0 hero-block py-4    has-background has-slate-100-background-color has-text-color has-theme-slate-color\">\n    <div\n        class=\" flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 w-full \">\n            <main class=\"py-4\">\n                \n\n<h3 class=\"wp-block-heading my-0 tracking-tight font-extrabold has-theme-slate-dark-color has-text-color has-large-font-size\">Join the community<\/h3>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-theme-slate-color has-text-color\" style=\"font-size:16px;font-style:normal;font-weight:400\">Ready to succeed in real estate investing? Create a free BiggerPockets account to learn about investment strategies; ask questions and get answers from our community of +2 million members; connect with investor-friendly agents; and so much more. <\/p>\n\n\n\n<div id=button-custom-event-block_64dd2888dba9e class='button-custom-event'>\n      <a href=\"https:\/\/www.biggerpockets.com\/signup\" x-on:click=\"window.analytics.track(&#039;Blog Block | Acquisition | Free Membership Signup&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/a-robust-economy-is-wrecking-real-estate-opportunities&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Sign Up<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n            <\/div>\n<\/div>\n\n\n<div style=\"height:10px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n  <\/div>\n  <\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage&nbsp;rates recently&nbsp;rose above 7%&nbsp;for the first time this year, bringing an already glacial housing market to a standstill. The news has hit investors like a horror movie jump scare after [&hellip;]<\/p>\n","protected":false},"author":613725,"featured_media":171227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7383,7119],"tags":[],"class_list":["post-171223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-biggerpockets-daily"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/171223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/613725"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=171223"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/171223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/171227"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=171223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=171223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=171223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}