As noted by most, the market lacks inventory, practically, in every city within the States. The demand for deals, however has not stopped. If you pay close attention, most investors are switching their focus from high end housing to B/C+/C and C- properties. That makes sense because downsizing would be a common practice for the next few years due to unemployment and unpredictability. At the same time, there is another very unique trend going on that had been present in the past as well - Mass Migration. Expensive cities like LA, San Francisco, San Diego, NY, Miami, etc would keep bleeding middle class Americans who can now work remotely and are not tied up to these places. On the other hand, developing cities such as Jacksonville, Tampa, Boise, Dallas with more favorable economic and tax conditions would see an increase of working class people. Although I do not have a crystal ball, it is my opinion that there would only be recession in certain parts of the country, whereas others would actually see an increase.
