Never had a bubble or a crash in the 2000s because it is a very stable market anchored by the state government, universities, and health care.  

In my area of Virginia because you have to anchor them so deeply in the ground you can't use those signs until you call utility companies and they come out and mark where all the lines (water, power, etc) are.

I need anchors/tie-downs ( per a HUD inspector) and to have it leveled before doing my windows/doors and any interior framing etc.

The property won't even cash flow before counting maintenance, repairs, management fees, or vacancy.It is a 1962 ranch 2/1 with under 800 sqft (less likely to appreciate than a larger 3/2+ or even 2/1.5)It was flipped at the height of the bubble (generally meaning lower quality work)IMO I don't think you would even consider holding on to this property if you had zero emotional attachment (including having that 2008 purchase price anchored in your mind).  

-Student debt has reached crazy level, but its not a catalyst of a correction, but an anchor.

Most importantly, does any of these submarkets have any economic anchors like state government, major universities, major health care centers, or manufacturers that are independent of the economy like military suppliers that employs most of the residents of that submarket?

I’m 23 looking for a place to live but don’t want to be anchored to a place in the expensive market I live in.

Will this happen or will prices be sticky because owners are anchoring their prices with leveraged investments?

They are called "plate anchors," and there are steel plates on the other side of the wall as well (several feet past the wall). 

We just renovated something similar, 21 units, 90 years old, very historical and an anchor for a generally lower-income area.