Broken Bow Oklahoma
Looking at building a cabin in their starting this July. Would love some feedback on doing a STR now with interest rates going up and will continue to go up. It is like we are setting up on a ticking time bomb slowdown of spending is bound to happen and that means people lose jobs. Gas very high, inflation due to so much government spending... and people are slowing on buying homes. I am looking in Broken Bow, OK where there are already cabins for STR. What are investors thinking now.. hold, wait, what?
I am also considering this. I think the market will continue to grow with the casino coming to BB. I think prices for cabins are softening likely due to higher interest rates. I feel like if I can buy right it should be ok. You could always refinance when rates come back to earth.
Quote from @Geoffrey Morthland:
I am also considering this. I think the market will continue to grow with the casino coming to BB. I think prices for cabins are softening likely due to higher interest rates. I feel like if I can buy right it should be ok. You could always refinance when rates come back to earth.
I don't think we will see rates in the 6-7% range in the next decade. I'm willing to be wrong, but I think we will reminisce about rates only being 7%. It's still a historically reasonable rate.