Will 2024 bring about a soft landing or a hard recession? Tough economic times could be upon us as more and more economists disagree with the “soft landing” narrative of early and mid-2023. Even though the economy hasn’t broken down yet, top-tier investors like Fundrise’s Ben Miller believe that a recessionary “lag” is taking place that could give us some severe financial whiplash—and only the best of the best will survive what is to come.
So, what does it take to survive a recession, and how do you know whether or not you’ve put yourself at risk of losing everything? Ben, David, and Rob all give their takes on what could happen in 2024, how they’re protecting their wealth, and why they’re taking fewer risks to ensure they make it out alive. This may be a HUGE wake-up call if you’re still actively buying real estate deals and leveraging your portfolio as much as possible.
Ben will also talk about his lessons from the last two crashes, how the companies he worked with got crushed, and how he changed his investing perspective to build wealth far faster than almost anyone around him. Wealth is built during the downtimes, but if you don’t follow the advice of those who have been through past crashes, you could lose everything you’ve built!
In This Episode We Cover:
When the 2024 recession could hit and why it may be worse than most Americans believe
The recession “lag” that is catching up to us and why it might hit you by surprise
A soft landing vs. hard recession and how bad the economy could get
Impacts on real estate and whether or not you should be buying or holding right now
Playing financial “defense” and how to ensure you don’t get wiped out during downtimes
High mortgage rates and how they could lead to unemployment, a housing market standstill, and a tough economy
And So Much More!
Links from the Show
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Davids's BiggerPockets Profile
Subscribe to David’s YouTube Channel
Fundrise’s Ben Miller on The 2023 Financial Crash
A “Soft Landing” Looks Shaky as Recession Risk Starts to Rise
Why 2023’s “Rolling Recession” is Almost Impossible to Predict
Connect with Ben:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-841
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