Most people can see that real estate is in a very weird place right now and some markets like San Francisco have even dropped to 2017 levels. My theory is that a lot of markets like Tucson and Phoenix will drop to 2015 levels ultimately. The can will be kicked down the road for awhile but it will take years for the burn off to complete. Personally I see more relative value in over seas markets. A few of the areas in the MidWest could have development opportunities now that cost of materials have went down and if you can get all the permitting and keep workers on site and on task. Other than that I see way more opportunity in places like Italy and Montenegro. Might as well take over somewhere close to clear blue seas than some frozen hellscape.
High prices and high interest rates aren't a great equation for capital appreciation in most these markets.
