Why are those cap rates so low? Wouldve expected much better. That appreciation is also far below here. Family members 2BR condo went from appraising 570K last Summer to inferior condition but same unit next door recently closed for $750K. Vacancies non-existent here also. I thought everyone was leaving here for there. I guess not so much. Rents here also rising the fastest in the country
My prediction will be that rates hit much harder there than here. We have rapidly growing life science and tech industries here that make us less sensitive to interest rate risk than a place like that. Heaven forbid WFH goes away and you may have a full scale melt down. We’ll know for sure in a year or two
