568: When Great Markets Go on Sale

568: When Great Markets Go on Sale

July 19, 2026 · 40 min

About this episode

The episode discusses the misconceptions investors have about market conditions and highlights the long-term demand for housing in certain markets despite short-term challenges.

One of the biggest mistakes investors make is assuming that today's conditions will last forever. When the stock market is soaring, they assume it will continue indefinitely. When it's crashing, they assume the pain has only just begun. Real estate investors aren't any different. Today, there are plenty of headlines about falling apartment values, weak rent growth, and rising vacancies. Many investors have concluded that multifamily has lost its appeal. But that conclusion misses a critical point. The very markets experiencing the greatest short-term growing pains are often the same markets with the strongest long-term fundamentals. How can that be? Over the past several years, developers rushed to build apartments in places where people were moving in droves—Texas, the Carolinas, Tennessee, Arizona, Georgia, Florida, and parts of the Midwest. Developers followed demand, and for a while, it worked beautifully. Then interest rates surged. Projects that had already broken ground continued to come online, creating a temporary oversupply. Vacancies rose, rent growth slowed, and property values in many markets fell 30–40% from their peaks. That's the part everyone talks about. What…

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