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, low balling them only ignites their feelings.That being said, there are opportunities that are more appropriate for using a low price strategy. 

Thanks Brittany Gamble for your hard work.Cassandra

I can live with that but it is a gamble. 

Or should I gamble and go 10-15% below and risk losing it?

@Karim Karawia, I suggest to calculate your minimum cash flow requirements:- unless it generates more cash than it costs - it's not an investment - it's gambling.

So, you're considering just gambling on continuing (paper) appreciation?

The numbers make sense somewhat now, but the big gamble is that this location will be a great target for appreciation.

In the article, "As if that were not enough corruption, Congress authorized vast amounts of TARP bailout cash taken from taxpayers to be loaned directly to the worst-run banks, those that already gambled on mortgages and lost.

Gives me a bad feeling the more I look around haha, it's not ghetto by any means but it's not necessarily promising either....somewhat of a gamble in my eyes.My basic plan of attack: I'd like to attempt house hacking initially, get a feel for owning a house, renting things out, and working it that way.