Blackrock owns a ton of rental property in the USA and I remember some report they put out when interest rates hit 6% that they were still bullish on the property market.

Their explanation was that since 2008 housing has been built in the USA at half the rate needed to house everyone. Our population is still growing, and there are fewer units per person every year. Additionally, the interest rate makes construction loans more trouble the same way it makes buying an existing property more trouble, so there isn't any relief in sight.

If thats true, and it is coming from blackrock, then it could still be reasonable to buy more property.