What do the locals say about the economy?

Your circumstances may prevent you for going where the action is but if you have no family obligations always be able to move to where that economy helps y'all.Good luck to both of you!

What do you think is still driving this economy and what are some investors doing to prepare for the next down turn?  

If you need proof, read up about the economies of scale!

Vegas for sure Houston for sure every city... you simply don't buy in those areas.all things being equal I like the low prop tax's in INdy and the economy there is perfect for the rental class. 

For many reasons- primarily because you’ll get better at what you’re doing, also because you’ll (hopefully) expand and develop economies of scale, and you’ll find and develop associates who are more skilled as well.2.

a significant portion of our exchanges start in one state and end with the purchase in another anyway.You'll find your best price and service with a nationwide intermediary large enough to have economies of scale but small enough to have principles managing your file throughout the process.  

We have over 100 out of state and out of country investors purchasing buy/hold rental properties in Indianapolis because of the strong and growing economy mixed with reasonable pricing and strong ROI's.

It's difficult here to differentiate between giving good advice and advocating mentorship programs, workshops or courses to advance your one on one activity and thus speed up the learning curve and timeline to reaching and stretching your goals.I personally have gone the journey from DIY wholesaling, flipping, seller-financing SFR and international Short Term Vacation Rental management and then arrived at commercial multifamily and self-storage real estate syndication due to the fact that it offers the maximum scalability, economy of numbers and at some point truly leads to passive, residual income and thus to time freedom and choice.Send me a colleague request to kick the tires, set up a call and get a few burning questions answered in real time, one on one. 

In a down economy the first thing that families and individuals are going to cut out of their discretionary spending is going to be their vacation.