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‘Most economists are predicting a recession in 2023’: I own a rental property. Is it a good time to take out a bank loan and renovate — or should I wait?

‘Most economists are predicting a recession in 2023’: I own a rental property. Is it a good time to take out a bank loan and renovate — or should I wait?

Along with a sibling, I own a rental property of more than 40 rooms in the Caribbean, where we do weekly rentals. Is this a good time to go to the bank for a loan for renovation? With the worst days of COVID behind us — I hope — travel is booming and people are going crazy exploring all parts of this planet.