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I just found out that 2 of my friends who work in IT industry have purchased rental properties in 2019 (1 purchased 8 single family homes and the other bought 2 single family homes) as side hustles. They are renting it out to students and other IT employees. The purchases were made in Austin, TX and Columbus, OH.
So, is this a sound and profitable side hustle?
https://www.businessinsider.com/housing-market-bubble-crash-prices-bank-executives-fear-meltdown-survey-2021-10
78% of community bank executives expect the housing market to crash by 2026
The number of homes listed for sale across the United States has soared to a record high in July, according to reports.
https://slaynews.com/economy/number-of-homes-for-sale-across-us-soars-as-increased-demand-higher-prices-see-buyers-hit-pause/
The number of homes listed for sale across the United States has soared to a record high in July, according to reports.
I remember in the mid 90's when an 8% mortgage was typical. My dad remembers rates in the teens. People still bought and sold homes.
at a time when the pool of potential buyers is going up
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https://finance.yahoo.com/news/pimco-kiesel-called-housing-top-160339396.html?source=patrick.net
Bond manager Mark Kiesel sold his California home in 2006, when he presciently predicted the housing bubble would pop. He bought again in 2012, after U.S. prices fell more than 30% and found a floor.
Now, after a record surge in prices, Kiesel says the time to sell is once again at hand.