Hey, so thanks for checking this post out. We wanted to go over today something real quick.
So D.R. Horton, one of America’s largest home builders, quarter three, they actually ended with a 32% increase in cancellations to their properties. That’s up from about 19% the quarter before. And so what that really says is people are starting to get scared if the rents will go ahead and cover that mortgage payment. If you’re buying the house, am I going to be able to cover my actual mortgage payment? And then people are also seeing these increase interest rates and starting to back out of the house purchases right now.
Now, the biggest difference for us is if you are an investor, you do want to be looking at purchasing right now. You want to be looking at purchasing things that will at least break even because what happens is when the rates come back down, you can refinance and you can actually take cash flow from that property. So I wouldn’t be too worried about all of these rates right now. Just make sure that when you buy, you buy correctly, and we can always help you with that as well.
So feel free to contact us and we’ll see on the next one.
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