Such a scenario doesn't just bring values down by 30% but also places substantial pressure on property holders, especially when debt refinancing looms on the horizon, compelling action at these reduced market values.Here is the double whammy that increases the cash in refinance needed, the capital markets (bank lending) terrain has tightened greatly.

PROOF there is no looming "everyones about to go under". 

Pikes Peak looms over the city so views are never far away, trails and nature are always within a short drive, and people are super nice.

We have immense liquidity in the system and no mention of any looming threat that could disrupt the financial machine, at least no legitimate one grounded in reality and logic (yes, I have heard the fed printing will collapse everything, buy gold & silver, I have heard this for 20+ years, it's always magically "just about to happen") COVID, arguments of how covid will crash the housing market.

The market has peaked by comparison and new potential bubbles or at least corrections are looming.

Find a county a little further out where the landlord laws are friendly and where the county doesn't have some huge budget deficit looming because of their unfunded pensions like cook county does.At least that way, you're mitigating your risk to only dealing with the state problems. :-)btw: I would suggest investing in NW indiana.

When we see some softening, we'll move.One last thing to consider: beware of looming property tax increases.

With the baby boom retiring & the looming climate changes, some of the top RE investors advise looking to warmer climates.  

there are still deals to be had out here, some better, and some not so good, especially if your'e worried about a looming recession.

Five months later, with 2018 looming large, I abandoned the safety of the corporate hive and delved completely into real estate.