US stock market is sending a message that US housing prices are overpriced today.

Shares of major single-family landlords like INVH & AMH are trading at HUGE discounts (20-35%) to their net asset values (NAV). This means the stock market thinks the underlying properties are worth far less than current market prices.

Pay heed to what the stock market is saying. In 2020, stock prices of office real estate signaled a downturn before private sales reflected the change. History might be repeating itself.

Meanwhile, 30-year mortgage rates are near 7%. 

If investing in US real estate today, only invest what you can afford to lose.