Quick follow-up:This tool is actually already live — it's a real-time dashboard that maps how sentiment is changing across cities and regions, based on news and commentary in the real estate space.I’m not trying to sell anything here, just curious:Would something like this be useful to investors, analysts, or brokers trying to track market momentum or confidence?

Market participants attributed the gains to technical positioning and broader risk sentiment, as equities hovered near all-time highs and mortgage-backed securities (MBS) traded in line with Treasuries.

@Daniel Sehy targeting a cap rate is a fool's errand, most commonly practiced by the same folks that complain that they can't find any good deals.Most important is to realize what cap rate really is--it's a thermometer for investor sentiment. 

@Adam Macias would have to agree with this sentiment. 

It would eventually get "recaptured" if you sold, but you get the benefit in the present with the downside being at a future date.Overall, I agree with the sentiment of this thread and would say that depreciation really should have been taken on your 2024 return, and if it were me my next step would be to file the Form 3115 in 2025 and pick up the "lost" depreciation from 2024 so at 12/31/2025, you're back to where you should have been.Feel free to shoot me a direct message if there's anything I can help clarify, happy to help.- Matt

It was always a speculative investment, investing on sentiment and a trend.

that is my sentiment currently as well, just wanted to ask others in the forums!

Morgan put recession odds as high as 65%, analysts have shifted their focus from tariff fears to housing sector weakness as the most immediate threat to economic stability.The warning signs are mounting fast:77% of Americans say it's a bad time to buy a home (Fannie Mae, April 2025)Mortgage rates hovering near 7% are crushing demand (old story)Home Purchase Sentiment Index shows a net-55% rating for buying conditionsInflation-adjusted residential investment remains flatCiti Research expects housing activity to contract in Q2 after a sluggish start to the year, with the combination of falling permits, rising inventory, and slipping prices painting a picture of a market running out of steam.

Hey @Marc Shin, to sum up the sentiments I've seen on the thread so far, what you put into it is what you will get out of it....

If the fundamentals of NOLA are strong but the sentiment is bad, THAT is a buy signal.New Orleans is losing population.