The First Domino? Investors Pull Billions as Real Estate Bank Runs Return

On The Market

BiggerPockets

Investing, Education, Business, News

4.8 • 859 Ratings

🗓️ 24 March 2026

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

Investors are pulling billions of dollars (yes, billions) out of real estate investments at a record pace as “bank run” style withdrawals return. Blackstone has already seen record withdrawal requests of over $3 billion. Could this be the first domino to fall that could set off a private credit crisis, pulling multifamily prices down even more? We’re back with this week’s biggest headlines—from mortgage rates rising back to six-month highs to corporate headquarters being converted into housing—there’s almost too much to talk about happening in the housing market. First, mortgage interest rates flip as buyers get pushed back out of the market, but this could lead to even bigger discounts for investors. A lonely corporate headquarters building gets greenlit for conversion to housing. If this trend continues, we could see relief in housing supply strain. Investors pull a record amount of money from real estate investments—just as commercial real estate needs it most (this will have consequences). Finally, the “millionaire tax” makes its way through one state—and it could kill one type of real estate investing. In This Episode We Cover Investors go on a bank run—why they’re pulling billions of dollars from investments Mortgage rates boomerang back to around 6.5%, but investor deals could get even better The newest housing inventory opportunity and how to make a CEO’s office your new living room The millionaire tax is kicking profitable investors out of this popular market And So Much More! Links from the Show Join the Future of Real Estate Investing with Fundrise Join BiggerPockets for FREE Join us at the BiggerPockets Conference October 2-4 in Orlando. Buy tickets Sign Up for the On the Market Newsletter Find Investor-Friendly Lenders BiggerPockets Real Estate 1207 - 2026 Mortgage Rate Predictions: This “X Factor” Could Change Everything Dave's BiggerPockets Profile Henry's BiggerPockets Profile James' BiggerPockets Profile Kathy's BiggerPockets Profile NewsTimes: 200 apartments floated at Duracell’s ‘gorgeous’ former world HQ in Bethel as workforce shrinks to 20 Ken McElroy: The Liquidity Problem No One Is Talking About Homes.com: As Washington 'millionaires tax' heads to governor, some agents see homeowners list Grab Dave’s Book, "Real Estate by the Numbers" Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ and https://www.biggerpockets.com/blog/on-the-market-410. Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠advertise@biggerpockets.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	We are heading into the heart of the spring selling season.
0:08.0	Normally a time where things start to pick up, people start to come out of the woodwork,
0:13.0	and the market gets a little bit of life back into it.
0:16.0	But with everything going on here in 2026, is that going to happen this year?
0:21.6	I'm Dave Meyer here today with Kathy Fecky, Henry Washington, and James Dainert.
0:26.3	And today we're going over the latest headlines, the most recent data and news to help you make sense of what's actually going to happen this spring selling season.
0:34.6	You're listening to On the Market.
0:36.2	Let's get into it.
0:38.7	James, Kathy, Henry,
0:44.0	good to have you all here. Henry, how you doing, man? I'm fantastic, man. Great to be here, as usual.
0:50.6	James, how are you? I'm good. Just got landed back in California. Go check on the flip. See what we're doing. Is this the like $10 million flip? It is. And I just want to get it done.
0:55.5	I bet.
1:13.4	I would too with that holding cost. That holding cost and hopefully that check at the end of the day. You know what? We're going to do a case study cash on cash return. Henry, I want you to bring in a deal and I'm going to bring in that deal. and we're going to show how much more money Henry's making than on a bigger flip.
1:11.0	Henry might be making more cash on cash return, but I'm
1:16.4	sure you won't trade checks with him, James. I guess we will see. For the record, if you want to trade
1:21.3	checks, I'm in. And Kathy, how are you doing? Well, I'm almost recovered from my daughter's trashy Vegas wedding,
1:29.7	which was so fun, Elvis and all. But yeah, almost recovered. My voice is almost back. It was awesome.
1:38.4	You sound good. You look good. It's all good. And congratulations again. Thank you.
1:42.5	Well, we've got great stories for you to talk about what's
1:44.9	going on in the housing market. I'm actually going to start today because I signed on to the news
1:51.5	this morning and saw that mortgage rates hit a sixth month high. We're actually at about 6.4%.
1:58.0	Ten year is going up today. So next week, the week the show actually hears,
	...

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