Most cities now in "Hypersupply" and "Recession" cycle phases

[Jon Q.]

Many markets are now headed into "Hypersupply" and "Recession" phases of the market cycle (see chart below). It doesn't mean that you should stop looking/buying, but it does mean that you should be focused on deals where you can negotiate very attractive entry prices and generate a bulk of your return from cash-flow (appreciation for near-term will be minimal).

Don't be caught swimming naked!

[Jeff B.]

Please cite the source of this graph; w/o a legend it is just a so-what graphic IMO.

(sorry, I'm the math guy)