Does this hurt or help the economy? 

They build and invest to help improve the area, bring in better tenant pool, improve the economy and hopefully at the end of the day make a profit on the hard work, time, and money spent on that new development.  

Great appreciation due to a strong economy and population growth.

These are pros and cons:Pros:- Access to Better Markets:Investing out of state allows you to choose markets with stronger economies, population growth, and higher rental yields.- Diversification:Spreading your investments across different states reduces risk and helps protect your portfolio from local economic downturns.- Affordability:Some out-of-state markets may offer lower property prices, allowing you to get more for your investment.- Higher Cash Flow Potential:Certain markets might provide better rental income, leading to increased cash flow.Cons:- Limited Local Knowledge:Understanding the nuances of a new market is challenging without on-the-ground experience.- Property Management:Managing properties remotely often requires hiring a property manager, adding to your costs.- Increased Travel and Communication:Regular visits and long-distance coordination can increase both time and expense.- Legal and Tax Complications:Navigating different state laws and tax regulations can be complex and confusing.Out-of-state investing can be a great way to grow your real estate portfolio, but weighing the benefits against the potential challenges is essential.

So I’m hoping that’s a future boost in the economy there.

The 1% MoM increase in July existing home sales was just a taste.Here are the current odds on Fed rate cuts at upcoming FOMC meetings:Sept 18: 100% (same as last week); the probability of a 50 basis points cut roughly steady at 25%.Nov 5: US presidential electionNov 7: 100% (same as last week); 39% probability that rates will be 75 basis points lower than currentDec 18: 100% (same as last week); 44% probability that rates will be 100 basis points lower than current.They Said It“Despite the modest gain [in July], existing home sales are still sluggish.

You are experiencing the market reality that the economy has changed but seller expectations have not.

It’s the “new sharing economy”

property is currently in a reverse mortgage need $308k to satisfy. currently 3 units and wanting to remodel to create a 4th.Rural low economy market with high demand and very few rentals available in area.

Interest rates are just one component of the economy and you have many different macro-economic conditions that impact housing such as job market, inflation, debt loads, lending standards etc.