Slow decay though, nothing fast.

Some of the failure mechanisms are rusted connection hardware, crack treads, spalling from freeze-thaw cycle, and decay from moisture.  

.• A significant increase in space availability stands to place downward pressure on average asking rents in the months ahead, but a strong employment recovery will counteract this trend later into 2021.• Post-pandemic, tenants are expected to maintain an emphasis on both work flexibility and wellness for employees, including modified in-office work schedules, continued work-from-home arrangements and access to greenspace and outdoor workspaces.

I think a lot of new investors look at the allure of STR and see the big revenue numbers and forget how much damage your house and your furniture and your furnishings will take with guest after guest after guest staying in your houseIf you let your house and the furniture and the furnishings fall into a state of decay, what originally started as a big moneymaker will instead become a constant source of guest complaints and bad reviews and headaches and sleepless nights (for you & your guests!)

This usually occurs to older homes pre 1960, by 1980 PVC is used and decay is unlikely. 

The only way to counteract the erosion of inflation is appreciation.

Is it improving or decaying?   

We're more likely to see a cooling-off as interest rates rise to counteract inflation. 

That said, I don’t see a “crash” at all, in fact, I see a high possibility of interest rates going lower to counter act some other outside of real estate forces that could cause an economy downturn.

They may be prudent at one point when things decay.