So OP we have a lot bigger underlying fundamental issues that are directly correlated to the housing affordability issues in our country that have nothing to do with anyone on this site.

The first fundamental thing we can do in a local area is get more people tested and drive opening the economy to that data.

That massive popularity of "cheaper" has inflated OH prices, it's simple demand-supply curve mathematics, get all kinds of out state $ coming in to buy on perceptional value and they change the metrics of "fair market value" too perceptual value vs market fundamentals. 

To be clear, I am not saying there is nothing to be concerned with, but as far as any disease impacting one of the fundamental industries of our country that goes well beyond the scope of individual investors and/or small groups.Last thought: Warren Buffet says, "Buy when there is blood in the streets." 

Fundamentally speaking it is a phenomenal investment with numbers to die for.

If you're buying good deals with strong fundamentals, some debt is not a bad thing. 

Better to jump in now while the money is cheap and try to find a fundamentally sound deal where you can succeed no matter the market conditions

Not only did I begin to grasp the fundamental concepts of real estate better than I had in law school, but I developed a passion for it.I eventually left the law firm, and moved into an in-house role with one company in Metro Detroit and then another (my current job).

Are you basing your appreciation play on any market fundamental data like: jobs, population growth, etc?

I've read a lot of articles about real estate written by actual economists and have a Bachelors and Masters degree in business which includes years of statistics and economics studies, and the cycles basically come down to the fundamentals of economics, supply and demand.