This episode of STRonomics is proudly sponsored by MarketMySTR.com, the leading marketing platform for STR Industries.
In this episode of STRonomics, hosts Bill Faeth and Kenny Bedwell discuss the outlook for short term rental investors in 2024. They reckon that the future market performance largely hinges on factors like interest rates, the economy, and election outcomes. They also highlight how booking lead times seem to be slowly increasing in the US, evidencing a gradual return to normalcy in tourism after the pandemic-induced slump. On the other hand, they predict real estate markets in the US will become highly competitive and any future value growth will be much harder to secure. Lastly, they caution potential investors to thoroughly scrutinize property deals, considering long-term plans and steading clear from overtly inflated markets.
00:00 Introduction and Welcome
00:14 Excitement for the Upcoming STR Wealth Conference
01:00 Predictions for Short Term Rental Investors in 2024
01:21 Impact of Interest Rates and Economy on the Market
01:30 Trends in Booking Lead Times and Travel Patterns
02:06 Market Dips and Recovery
02:55 Outlook for 2024
03:31 The Impact of the Fed and Elections on the Economy
05:00 Importance of Market Research and Tracking Search Volume
05:55 Buying Strategy for 2024
06:36 Impact of Lowering Interest Rates on the Market
07:15 The Role of the Fed and Interest Rates in Buying Decisions
07:41 The Effect of High Interest Rates on the Market
08:07 The Best Investment Opportunities and Market Trends
14:24 The Importance of Long-Term Thinking in Property Investment
14:50 Avoiding Common Mistakes in Property Investment
16:58 Closing Remarks and Contact Information
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