So we tip toe gently through that area here in OTR.

A 5% movement down wipes out 100% of the equity, and multifamily values are down 5% or more almost everywhere since late 2021.I'm less inclined to say that they invested in a higher risk asset/market, and more inclined to say that they invested at an inopportune time with a high-risk capital structure. 

At Movement Mortgage, we are in the 6s for a house hack like this since we are a direct lender and mortgage broker.

Got plenty of assurances that credit was “excellent,” but never any forward movement.

Many months of rates moving at most a few basis points a week morphed into dramatic, massive movements—with bigger changes sometimes happening in one day than had occurred in quarters or years prior.Real estate investors navigating the challenging market of 2024—with mortgage rates still at elevated levels—are at an advantage when they can lock in financing terms or plan purchases while DSCR loan rates are favorable.

Look at SF  Portland and Seattle.. big movement back to the burbs because of companies leaving. now they are leaving because of defund the police and homeless and other social issues have made living there undesirable to many..

2024 Trends to Watch:- Smaller leases (1,000-15,000 square feet) make up the majority of transactions and movement in 2023.- Tech companies are increasingly starting to call employees back to the office in a hybrid capacity.- Home to over 3,000 tech companies and a host of accelerators and incubators, Austin is quickly developing a reputation as a key player in the US AI startup scene.- According to Built in Austin, defense technology appears to be the leading area of interest for venture capital investors on the Austin tech scene.

You'll see families consolidate, less transactional movement, and more risk averse speculation than folks in 2010-2022 or before.  

I'm not really surprised that there is political movement around affordable  housing in this area. 

I’ve seen a lot of price reductions but also seeing quick movement on properties that are priced right, maybe consider the advice to price it under a $1M.Wish you the best!