Then when they get down to the last few properties or have lower inventory then they "fire sale" them out causing the market to take an immediate down price.As I mentioned to my investors multiple times last year and this year stay away from New construction or New builds in smaller towns or as the last few phases are being built if at all possible unless you are building your own multifamily 2-4 unit rentals.

Then we have more Bid's/Offers and some people over bidding to win which then also causes a trend on appraisal value increasing.If you ever have ny questions feel free to check out my profile and reach out via message or email. 

@Jacob PeirsonThe Real Estate Crash of 2008-2010 caused real estate prices to crash across the country - but didn't affect rent amounts.

I now support directly with time (we volunteer quite a bit for women/children and veteran causes) and support $ debt buy-offs like school lunches and medical debt and being the Quartermaster (treasurer) of my VFW post I get to help lead our local veteran relief efforts. 

or is it just the high interest rates and lower down payment that is causing this?

If you allow uncontrolled STR you create homeless from the top down by causing rates to rise and be pushed down.6.  

If you do that you COULD trigger one cause or another with them, but buying with the intent of living at a place as your primary for a period is almost always legit - even if you're not selling your current home. 

So I have a co-living insurance policy at replacement cost with rental loss coverage - Steadily only works when its 4 bedrooms or less and they really don't want it (usually causes non-renewals).

@Zachary Overstreet The Real Estate Crash of 2008-2010 caused real estate prices to crash across the country - but didn't affect rent amounts.

You have the standard property policy in play (homeowners / commercial property), which usually do "not" provide coverage for a busted pipe out in your yard that causes "no" damage to your home/rental building.