There's a little oversupply, maybe large depending on region.

If curious, here are the last two: Jan 2023: Multifamily Real Estate is At Risk of CrashingFeb 2024: Multifamily is at High Risk of Continuing It's Historic CrashI think that the title for my 2025 analysis (likely Jan/Feb publication will be something more like:Multifamily is Finally Going to Hit Rock Bottom in Q2/Q3 2025 - Get Ready to Buy a LOT of itAs usual, I like to publish my draft thoughts here to get input from key players in the space and these forums, especially folks like @Brian Burke, to see if I am missing any high level areas, before I get into the weeds and look at the data more deeply and regionally. 

Hey Caleb,The short answer is yes—MLS systems are regional, so photo availability and listing practices can vary quite a bit.

Are there specific national or regional agencies that coordinate temporary housing for disaster victims?

Quote from @JD Martin: Quote from @Jay Hinrichs: Quote from @Matthew Drouin: Small wine town is all I needed to hear.Seasonal tourism is usually not a great industry in which to build a sustainable business.There are probably higher and better uses of your capital near high velocity metro areas.We have small wine towns near our city in the finger lakes region of western NY.  

That said, water scarcity is not why my home state and favorite region look apocalyptic right now. 

Deal sourcing-  if you’re willing to search regionally, don’t ask anyone to sell that isn’t already in a sale mode. “ No marketing.”

The areas at most risk are many of the same regions where housing was hit hardest by the Great Recession, clustered in Southern California, the southwest, and Florida.

There are less restrictions in North Las Vegas and Henderson.The city is very protective of the big casino/hotel operators, and rightfully so. 

Places with strong population and job growth (think the Sunbelt regions or emerging Midwestern cities) can offer solid cash flow and long-term appreciation.