Interest rates explode. 📈

Mortgage rates have spiked back up to 7% in 2024, with investors now beginning to sell properties because they can no longer make money on them. The skyrocketing interest rates is now causing even more forced selling in housing markets like Florida.

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The reason investors are selling is that they aren't making money on rentals with interest rates this high. The spread between cap rates and government bond yields simply doesn't make sense. Especially in Tampa-St. Petersburgh, FL.
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