I think I will stay away from vacation rentals because of my concern for the economy right now; I believe vacations will be decreased with the likely coming recession.  

Majority caught during the disastrous recession was non fixed rate mortgage, interest only, variable with much higher interest or balloon payment due.....

Unless we have a sharp recession or a huge influx of inventory.

I won't say it will throw us into a recession, if it doesn't it will be a catalyst for slower GDP growth.

Plus, MF is a necessity, not a luxury (recession proof).

RevPAR growth followed and in 2023Q3 it grew by -1.9%, which can also be considered to be more “normal”.Looking ahead, CoStar and Oxford Economics project a mild recession with a 1% GDP decline in 23Q4 and 24Q1.

Meanwhile, a swift recovery appears unlikely given the near-term potential for a mild, interest rate-driven recession, which poses downside risks to CoStar's basecase forecast for net absorption in late 2023 and early 2024.One silver lining is that even when excluding web services, Amazon's North American sales have been rising by double digits and the company is slowing its distribution center closures which began more than one year ago.

The majority opinion among economists is that a long-expected recession will materialize in late 2023 or early 2024.

I agree that with rising interest rates and the impending recession that there will many new home builders scrambling to sell completed homes that buyers have backed out of.I love the idea of not having any CAPEX maintenance expenses for the first 5-7 years, this gives you ample time to build that emergency fund for each property instead of waiting with a bag of money for the shoe to drop when the HVAC or roof needs replaced suddenly.Also a great point about rents lagging and the type of tenant a nice new property would draw. 

@Jamie Stone as a survivor from the Great Recession, losing my portfolio, and starting again my first purchase was a turnkey property.