In urban areas, it is soft for sure, affecting the rental market, condos and higher end properties.   

If you're at a higher level in society, you're probably barely dealing with cash.

If they have been back in society for seven years with no problems, it is likely that they are not overly problematic, but having a conviction 7 years ago could mean that they just got released from a 14 year prison sentence.

Quote from @John McDonald: Your strategy to utilize Fannie Mae's 5% down for a multifamily home to house hack is a smart move, especially in high-demand urban areas.

From what I saw they were  on the lower scales of society and just needed a break.

Even the urban neighborhoods are becoming increasingly successful as short term rentals with the increase in demand for corporate housing.With this in mind, investing in a short term rental is risky and the fees are generally high.

In short, basic functions of government and society that we take for granted, education, police, law... they are not existing here. 

I understand having a no dogs policy, that I can not dispute.However, to throw a whole group of people under the bus and calling them the biggest loser of society is a MASSIVE over statement.It really is a shame to see people that make statements like that in the world.

That doesn't mean they won't move to a different urban area to avoid high taxes, high crime, bad schools, etc.http://patch.com/illinois/downersgrove/home-values...

Out of curiosity, I know asset values are lower out in Erie than some of the suburban/urban investors are used to on this site.