Opinions on housing market/economy in Maryland

[Jonathan Tavarez]

Hi BP community,

Recently I got the opportunity to invest in a multifamily property (with intentions to rent) on Frederick MD using an FHA loan but I have some doubts because the housing market looks really high or basically the prices are as high as pre housing bubble from 2008. I don't know much about how high can the housing market go but my fear is that I will be taking a good amount of risk with this 3 units and I'm starting to wonder if it's better to wait and see what happens with the economy. I do investments in the stock market and currently the valuation for many stocks is very high and some people are waiting on the sidelines for some type of correction, I'm just wondering if something similar can happen to the housing market especially since things are looking unstable with the federal rate hikes (this will also affect FHA loans). Can someone share thoughts on this subject?