As you know, as part of the PhREI network, we decided to start a weekly roundup to share new activity from across the network. Enjoy!
Ian Cook of CarpeDiem MD states the obvious, that “the rapid increase in mortgage rates is having a dramatic impact on markets, especially for second home/vacation markets.”
But, what’s less obvious are the things to consider during these times (which he explains in great detail):
- Rising mortgage rates will depress purchasing power;
- Lower property values are a good thing if you’re looking to buy;
- High gas prices impact everything;
- Inflation; and
- Know your market.
Daniel Shin of the Darwinian Doctor switches things up with a satire post – hilarious! I don’t want to give too much away, so I’ll give the main point: it’s a conversation between a hospital CEO and his right-hand about home call. Worth reading!
A pretty commonly asked question that I get is “should I turn my home into a rental property?”
I recently had a friend ask me this very question, so I figure it’s a perfect time to answer it! What do you think?