2024 Predictions

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 We handle the day-to-day tasks of your short-term rental, giving you the freedom to grow your business and focus on the things that matter most. In the dynamic landscape of short-term rentals, success lies in the details. At STR Super VAs, we bring expertise to every facet of your business, ensuring those details are meticulously managed. Click here to learn more about how you can integrate VAs into your business! https://www.strvas.com/ Watch this podcast each Thursday on our YouTube Channel: https://www.youtube.com/channel/UCnheh3vx0hT5Y7uHWhBs8kA STR Data Hosts Facebook Page Instagram: Kenny_Bedwell You can find more of Bill online at: Bill Faeth Linktree: https://linktr.ee/bfaeth?utm_source=linktree_profile_share<sid=660cbc9b-4a7e-4ed9-a654-900180b83af1 Build STR Wealth: https://buildstrwealth.com/ Instagram: @BillFaeth73 Tik Tok: @bfaeth Learn more about your ad choices. Visit megaphone.fm/adchoices