The New Market. Good or Bad?

[Joshua Nowell]

So I recently read a blog by Anson Young about the mortgage forbearance issue. Article:

https://www.biggerpockets.com/...

(I found this on BP insights so Im not sure if its only available to Pro and up. Sorry about that.) 

But basically, the author Anson Young, states the forbearance will leave pre-foreclosures in stasis for those who need help. Making the market for buyers scarce and giving more power to sellers. I also heard from David Greene on the BP podcast #414 that one of the biggest issues facing investors these days is a lack of properties. This is great news for homeowners but not so much for new/small investors like me who already have a hard time finding good deals or props to research in general. I don't mean to spoil anyones attitude with this but it's a concern for my limited experience. I intended on getting my first property this year. (House-Hacking rentals is the name of the game.)

 To do this I have been splitting between wholesaling and searching for discounted properties as a plan to make that happen. But the author also explains that the market won't flood with foreclosed properties in the near future either so this may be the beginning of a down market(But im sure most of you figured that one.)

I'm not pessimistic by any means, in spite of this news I'm still going to find a way. I may need to adapt. But the reality seeps in and I can't help but feel afraid that achieving my goal this year will be nearly impossible. I've been working, thinking, and pressing on tirelessly these last few months to achieve my goal but this news hit me like a truck. I'm not sure if trying to operate in NYC is part of the issue but I figured since I live in the city I understand the market.  

Sorry about the lengthy exposition but finally to my question:

1.Do you guys believe grit and ingenuity will prevail? Or is this a dream I should put to the side for now?

But for the sake of everyone here like me. Id like to ask the investor who has found success during this pandemic:

2.How are you managing? What nifty and creative plans have you implemented to take advantage of this situation? 

Im not looking for an easy answer to my next steps. Im more interested in hearing your experience as a form of inspiration to myself and others like me who feel there is little hope for the little guy. Thank you all for reading and im grateful to any reply. Have a blessed weekend.