At that point inflation has decimated the principal substantically.

Especially when the stock market is down when I’m retired and I don’t want to pull out much money with a decimated 401k portfolio in bear markets.

There may continue to be a drop in bookings until other less informed hosts catch wind and adjust accordingly once they see those decimated payouts. 

They will first decimate the discount brokerage industry. 

The down-town centers are all but decimated.

Waiting for rates to drop means you'll be paying more in the future.The only way (that I see) prices dropping considerably is in a bigger economic crash that decimates demand across the Portland area.

well its 250-350 X .035 (3.5% down payment in decimal format) = 8750-12,250 down payment + closing costs (probably 6-8k roughly).If you go even leaner you get a DPA (down payment assistance) program and that absorbs/covers/offsets your 3.5% down payment then you bring in the remainder of the down payment or just the closing costs.If you go even leaner, you get the seller to cover your closing costs and then some becuase FHA is a program where you can receive up to a maximum seller concession of 6% so 6% or 350,000 is well over 20G's of closing (potential, your market may vary).

Decimating HUD by terminating half the employees there like he says he's going to do will also have a big negative effect on the real estate market.

CA state median property tax of 1.21%  For San Francisco it's 1.178% (rounded up all those decimals), San Jose 1.46%.

Hiring out would decimate my cash flow on a long term rental and I don’t have the time to run a hospitality business.