It may have a slight loss if interest rates spike, but you pretty soon should get increased return from increased rates. 

@Jason Crain; I told her they make her butt look good, high heels are for suckers....five gallon buckets are where it's at. 

I thought I was doing it right, but your post makes me think otherwise, and generally feel like a big heel right now.

But in 2015, the number spiked to about 95,000, and in 2015 it reached more than 100,000 people, according to census data.

Heart rate and blood pressure just spiked.

In the event of a real correction, markets like Toronto (or Vancouver) will undoubtedly see a spike in mortgage delinquencies and defaults, but even a doubling or tripling of current levels would be <3% in a local market ... and I've yet to see any analysis forecasting such a jump....

@Anish ToliaGuys like Cardone typically don’t appeal to the savvy, well heeled and the wealthy because his “advice” adds nothing incremental and is actually quite misleading.

I have looked at Mississippi, Alabama, Louisiana and Florida and nothing there really spiked my interest I don't see their economies in the small cities I went to really growing, hence my interest in a bigger city with more growth potential like Detroit. 

Looking at the increase of median compare to the average it seems the absorption is coming from higher-end properties, looks like Milwaukee also has no increase of inventory during Q1-Q2 2022, while in many CA  cities, there are spike supply increases for 2 quarters.Why Milwaukee and Cleveland are booming is intriguing.

We were fortunate the deal had enough padding to absorb the spike in rates but that was not intentional, going forward it is critical to make sure our own analysis reflects interest rate trends if we pursue another 504 loan to make sure we account for the time it takes for rates to lock.