We are seeing a lot of volatility with new listings, they either go nuts with offers - or don't get an offer at all.

I stay away from the luxury segement, I believe it's too volatile.

Then when they leave it is very volatile for your business.

So the market is only pricing in a tiny chance of rate cut on May 1, but is pricing in a high likelihood of a rate cut by July 31.They Said It“With a 0.7% increase from January to February 2024, which is almost double the monthly increase recorded before the pandemic, spring home price gains are already off to a strong start despite continued mortgage rate volatility.

I don't really like the volatility of renting to single families.

There won't be any issue with cash drag, because when the TD pays out, I can pay off my loan and wait for another TD.Your last comment was interesting:  You said you don't like volatility but you went all-in on RE? 

It just means your sacrifice is more cash up front and therefore tied more to the volatility of the house's pricing in regards to liquidity & equity at stake.

So if the 10 year T is at 3.7% today the 30 year fixed rate would be at 5.7% today if NOT lower just normal.The spread between the 10-year treasury and mortgage rates will not return to normal levels until the Fed and the banks start purchasing MBS again, neither of which are imminent in a volatile rate environment. 

.- I'm seeing a lot of volatility on these and can't land on what metric to use.

With STRs, you should be less leveraged due to the volatility in bookings especially in pure seasonal play one's.