Hello, I currently live in Japan, but I'll be moving back to Erie later this year.

My opinion, for what it's worth, is to take a good, long, hard look at Japan, because I think it is a sneak preview of where we in the US and others globally are headed.

You've joined the right group with plenty of investing tips.Since you are from Germany and therefore familiar with foreign real estate investment portfolios, if you are interested in information of the Japan property market, do let me know.

Currently in Japan.

The investors I have in my network are mostly from Japan. 

Something slightly unique about me is that I was born and raised in Japan and I have always done very well with Japanese people. 

To add onto this I am active duty Marine Corps stationed in Okinawa, Japan.

In the Short term rates may rise, and we could see a small correction in asset prices, but then they will just go back to the fed playbook and lower rates again, and maybe even lower this time (think Japan and 1 percent mortgages) because realistically they can’t raise rates long term.I don’t really see a deflation environment (maybe very short term) but I just don’t see it.

It just means you will refinance at some point in the future when the 40+ year trend (since the early 1980s) of "rates overall go down over time" continues (Japan has negative mortgage rates, so we don't know how far that can continue, but 0% is clearly not a hard-stop).

I invested in my first rental in CO Springs in Nov 2021 from 16 time zones away (Japan).