Is inflation ruining real estate?

[Xavier Burgos]

Hello BP community. Ive recently written multiple post on here and received amazing feedback. As the world goes on during these crazy times. We see inflation rapidly increasing, the prices of homes sky rocketing. Causing people to pay over top dollar for homes. Being someone that as of now is in the learning process of becoming a real estate agent as well as an investor. I am on the sideline watching people paying ridiculous amounts over asking price. Especially in the competitive market I am in (New York City). Im curious if inflation can be the cause to the end of new real estate investors? How can someone like me so young with little networks be able to compete with people paying 5 to 6 figures over asking price? Does this also mean if inflation proceeds to rapidly increase, will the house hacking strategy still be able to be used? It seems nearly impossible for someone so young to be able to build capital and even find the right price for a rental property to get their foot in the door. My question to you, the read, is inflation the new fault to upcoming real estate investors? As well as inflation killing the house hacking strategy in competitive markets? Thank you for taking the time to read this post and looking forward to the feedback and your opinion.