Not an authority on the subject, but when the last chit hit the fan, I was in Visalia CA. People from the BA flew over there following the myth of “in 6 months I will double my money”. I used beautiful, bigly words to tell them they had won the lotto, rent, keep your money, you name de warning or advise, they went dumb on me. Some pocketed $300K or more and were like drunken sailor looking for another drink of Kool Aid.
So, the outskirts of any city/county are the ones where most people will end up buying at the last moment, with enough time to settle down, then they start to notice that in every corner a for sale sign is posted. This, as occurred last time, ends up in the very high fortresses which have rich occupants that can sustain the slaughter for awhile. But eventually, they will jump ship. It’s a strategic move, allowed by law, if there are any in place when anything awful happens.
What you guys, as investors or landlords need to realize is if the numbers of people leaving your hood are lower than the incoming people. If technology can keep hiring people, outpacing the bleeding, and they are coming here to reach the American dream, then you won’t be in trouble.
If I mentioned the outskirts, it’s because as owners at that time, renters will do the same today. Supply and demand will hurt some landlords but benefit greater number of renters, or wannabe buyers. They will fly away from expensive places (given deportations are in place) to end up in San Jose, Oakland or farther North and those empty nests in SF or any other expensive place will have to find new tenants, which may be renting affordable places in the places aforementioned, leaving you with the cat in the sack.
I just know, that the law of numbers, the law of supply and demand supersedes any prediction.
Keep your eyes on the ball. Yesterday, some exemplary situations were narrating a tell tale of something worse to come. I hope not, I’d like to be positive, but after seeing and hearing the Hispanic community, my community what’s going on, ain’t good and the point is that we all are, and we all will be in the same boat. Believe me.