I think it’s going to get much worse & that we will enter a depression.

Look for opportunities there will be more.People couldn't for 10 years during great depression. 

Developers have been focusing on the West Side expansion because land there was cheap and plentiful, which has help depress property values in what used to be the city center.

Every "guru" I have ever seen is a textbook example of NPD"Narcissistic personality disorder (NPD) is a Cluster B personality disorder[1] in which a person is excessively preoccupied with personal adequacy, power, prestige and vanity, mentally unable to see the destructive damage they are causing to themselves and to others in the process.

"Texas" is a huge area so when you say CAPs are depressed, you ahve to be specific.  

As soon as I see somebody move out of their beach house in CA and it stays vacant for months on end is when I will start to worry, but I just have never seen that in my lifetime, even in 2009 in the depths of the worst housing crash since the great depression ... the only vacant properties were the ones the banks were holding as shadow inventory and would not sell, but the minute they put them up for sale in line with the comps they sold fairly quickly.

However, I live in California and don't know anything about the Michigan RE market other than it's very depressed as you have indicated. 

When things got tough for me, and I was depressed and broken, I pushed on and finished.

I have a broad thesis outlining retiring of millions of Boomers likely having a sustained depressive effect on home values in the urban and suburban areas where they work and have worked for four decades. 

I find this sort of macho-pretense disorder to be four or five times worse among male real estate agents than your average dude.So I would never trust a real estate agent to tell me how much a house would cost to renovate and how I should renovate it.