The reality is despite the internet, people are generally less wealthy, depressed and more out of shape than 25 years ago. 

I can definitely imagine rent control in a place like Rochester depressing prices.  

Nothing depresses rent like mass exoduses.

As we all know, real estate doesn't move in wild swings, you can see when an area is going to shift months before the prices are affected if you are paying attention.The other resource that will give you amazing insights into what areas are appreciating, which are depreciating, which are in a bubble and which are severely depressed is www.housingalerts.com. 

Since the Great Depression, on a national level, prices have only gone down in 2 periods of time.

The home is in a depressed area and we are purchasing it for just $24,000.

Buy foreclosed houses in a depressed town with a large industry. 

It's rather depressing but it's the truth.  

I have been taking the depression for it over the 34 years.

Now the last one I want to leave with may sound a bit depressing....