New housing starts unexpectedly plunged more than economists projected in June as home builders grappled with the effects of rising interest rates curbing demand for new homes, according to data released Tuesday, adding to signs of an abrupt turnaround in the booming housing market.KEY FACTSThe number of housing starts, or ​​new houses on which construction has started, fell 2% to about 1.56 million last month despite average economic projections calling for an increase of 1.4%, the Census Bureau reported Tuesday.Building permits were slightly above expectations, coming in at less than 1.7 million, but fell from May and are down from about 1.8 million in April.In emailed comments after the release, LPL Financial chief economist Jeffrey Roach said housing starts declined because demand is “quickly drying up” from higher borrowing costs as the Federal Reserve raises interest rates, though he expects home building activity should hold up despite the grim outlook.Pantheon Macro chief economist Ian Shepherdson was less optimistic, pointing out single-family starts and permits both fell by 8% in their fourth consecutive month of declines and noting construction activity lags sales, which in turn lag mortgage applications.Mortgage applications have collapsed more than 25% this year, he adds, suggesting single-family housing construction "needs to fall by [another] 20% or so over the next few months” to be more in line with demand.The latest data comes one day after the National Association of Home Builders reported the second-worst single-month drop in home builder confidence on record, driven by ongoing production bottlenecks and high inflation that have pushed the cost beyond its market value in some cases.KEY BACKGROUNDHistorically high savings rates and government stimulus measures helped ignite a home buying frenzy during the pandemic, but signs of a slowdown have quickly emerged as the Fed embarks on its most aggressive interest rate hiking cycle in two decades to curb high inflation.

Hey Kenlyn,Congrats on your degree, and your embarkment on your real estate journey.

While your at it buy his other book the book on flipping houses, its a great read and im glad I purchased it i will be referring to the many lessons in that book as i embark on my first flip. 

Of course, there are steps anyone should take before embarking upon a real estate investment venture….

Hello everyone, Not sure if this has been answered before, but as I begin to embark on my journey to creating passive income and long term wealth, I am constantly going back and forth about which method to pursue.

Hi everyone,I'm interested in having creative financing knowledge as a tool in my tool belt as I embark on wholesaling.

We have embarked upon a journey of becoming debt free recently and are intrigued with the idea of early retirement.

I would first come to the understanding that in whatever venture YOU determine is best for YOU, please understand that whatever your venture you embark on, the need for a source of capital will always exist. 

If you decide you want to embark on a similar path there are many Pro and Plus members here who offer their services as a deal provider and have opportunities waiting for people looking to invest.

Knowing what you know now...Let me start...I will teach myself to STOP the "No money down" guru crap I was about to embark on (so I can avoid bankruptcy)I will teach myself to have FINANCIAL DISCIPLINE - not show off but live a modest, simple, and FRUGAL lifeI will teach myself to FOCUS ON THE BIG DEALS and I will teach myself HOW to do BIG DEALS, instead of wasting time on the smaller dealsI will teach myself how to RAISE CAPITAL, combined with personal discipline so that I can have a HUGE CASH RESERVE so I can buy as many properties in the years 2008-2011 as possible- I bought a lot of properties in 2008-2011: I actually thrived during the recession but I wished I bought more :)What about the experienced real estate investors out there?