Thoughts on housing "crash" of 2nd/vacation homes?
I am looking to buy some property outside Los Angeles (where I currently live) to rent out as an airbnb. I have a theory that the secondary homes will be the first to get offloaded. If there is a "crash", do you think this assumption is correct? The market in the areas I'm looking is still very hot, and the cabins are selling double for what they went for 5-10 years ago. I'm waiting until end of 2021/early 2022 in hopes they will see a drop. Do you think this is a good strategy?