I've read two studies that seem to say maybe, yes, values are depressed, but both studies were from before 2000.

That’s why it, and similar states, were hurting for funding so bad in the 2007-2008 depression since they couldn’t get more funds/taxes as the property values went down.

Granted, there will be value to find if we fall into a depression.

I think all this "free" money will keep us afloat this year and the real depression will come later.

Go all in on the stock market and you have to worry about market drops, recessions/depressions, corporate bankruptcies etc. 

What if our economy enters a recession/depression when I retire and I lose a percentage of my 401(k) when I'm dependent on those funds?

LL are more likely to sell when they have to go through the hassle of an eviction and have the unfortunate event of having someone live rent free in their unit for up to a few months.Unemployment in San Diego is significantly higher than the national average (estimated at over 30% in San Diego, nationally the rate is ~15% - So our unemployment rate is near double the national average) and higher than during the Great depression (it is at an all time high).

That was possible when prices were depressed but it's much more competitive. 

This, during the "biggest financial crisis since the Great Depression."  

It largely has to do with The Great Migration, reallocation to real assets, depressed economic activities over the next decade, and specifically to Fayetteville, America's largest military base.