You don’t have to know everything to take the plunge!

Hi @Mike DeMille, congratulations on your initiative to take the plunge back into real estate investing!

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.

So..I’m ready to plunge in head first.

I am a long time "on the side" rental property owner who has taken the plunge after a long marketing career. 

I first identified the trend in January of last year in one of my most popular posts of 2013: America Meet Your New Slumlord: Wall Street.With all that in mind, let’s now take a look at the latest article from Bloomberg, which points out that Blackstone’s home purchases have plunged 70% from their peak last year.

So we finally took the plunge and purchase a couple of SFRs in Detroit...hopefully the fIrst of many!

@Maxwell Stroup hello and congrats on your first post and deciding to take the plunge ..

Hi, all! Brand new to BP and Real Estate. Stoked about plugging into this website and community! I work for a fin-tech/RIA startup in New Jersey and am a tutor on the side. Eager to empower local communities and creat...

Before you take the plunge, I would highly recommend that you educate yourself extensively on being a landlord, as many of the costs go well beyond PITI.