Besides, I have heard too many horror stories of tenants living for free at the landlord's dime due to the Ultra Tenant Friendly Laws NYC have.

Is it basic but nice homes that compete with hotels or all out ultra-luxurious properties, or something in-between? 

It took 2 years of ultra low rates for the real estate market to price in the low rates into the housing market.

Ultra tenant friendly laws don't help as well. 

However, to get the lumens that I consider to be required for acceptable lighting in the kitchen there isn't (for a price that I am willing to pay) anything available that looks nearly as good as led ultra thin recessed lights; thin recessed leds are cheap, easy to install, and **claim** to be good for 5 years.

How people didn't know that an ultra blue area, with super friendly tenant laws (and low cap rates to boot), wasn't going to have worse landlord laws in the future is beyond me. 

This article should be more about specific markets that are ultra-expensive and not the general market for as mentioned, the lawyer lady could always move and buy a house in 99% of America - and if she doesn't want to then she can put on a hardhat because life is hard. 

What chance do you think you have at succeeding at such Ultra-competitive market?

Does such a sustained ultra-high growth rate indicate that the place is turning around in terms of crime rates and stability of the tenant pool?

This is because of both the limited supply of properties that existed in the market before the Fed started their rate hikes, as well as people who want to move (and add to the supply of available houses) but aren't willing to give up their ultra-low interest rates on their current houses.