@Nadav GivoniI know it’s an old post but what I know about Puerto Rico is that now is the best time to buy - after the hurricane they’ve received plenty of funds and there are huge companies going in there because 97% of the island is an Opportunity ZoneI would stick with the metro area of Condado (too expensive now)Isla Verde (only near the big hotels beach front)Old San Juan (anywhere anytime there is good because of scarcity of supply and steady demand with tourism and the uniqueness of the place) Problem is how we banks would want 40% downpayment but maybe you will find other investors willing to carry financing for a year or two till you get established and show presence on the island then banks will give you a loan with a 25% downpayment Got a lot of clients and investors friends down there and they love it

There is no tourism. 

We know a few people that have invested in that Ironwood and western UP area, it seems to have pretty consistent tourism (weather dependent seasonally). 

We do have some nice industries like trona, tourism, agriculture, etc, but make no mistake we are an energy driven state. 

Personally I don't see why certain groups should solely bear the brunt of a government enforced shutdown - that includes tourism, restaurant, airlines, retail, and property owners.  

@Cailyn Aune  I can only go by my own experience that is over 4 decades.and Real estate tends to go in 10 year cycles at least in California.but when I think of each down turn it was for a completely different reasonmid 70's  end of viet nam warmid 80s was high interest and RTC89 was war in Iraq and Loma preita earthquakelate 2001 was a short live dot com bubble2008 the mother of all melt downsso here we are 8 years later .. low interest high employment NO liar loans.. 20 to 30% of all properties being sold in cash... land use regulations.. increasing population in areas that people actually want to live.will we melt down in 2 years I don't know but who knows what the catalyst will be since its never been the same thing twice.

Also consider tourism/foot traffic trends where the tourists are staying 2+ days; just because these areas have a lot of visitors does not mean these visitors are staying longer than a day trip.

I agree with the comments about caution around areas that are residential vs tourism.

The massive appreciation and ongoing rental rate increases are also secured by major buyer demand uniquely fueled by: 1) Desire for this beautiful area (Which in turn is fueled by increased Sedona tourism)2) Our ample and clean water supply3)(full circle) The strong STR's returns in Sedona, creating a large and aggressive buyer poolI review the town of Sedona official data (monthly and annual reports), so that I know what's happening with the local Short term rental market.

Marriott just made a huge investment to get a share of the African market there believing there will be a big increase in tourism and the economy.