It's seems the millennials are averaging below 200k with their income and debt levels. 

Especially when you factor in the millions of baby boomers who would love a nice, quiet place to retire, or these crazy millennials who are no longer going after the bizarre “American Dream,” and living in smaller and smaller units.The key to success in mobile home park investing is management.

Some other reasons I've read include:- Shift of attitude against home ownership, but still desiring SF lifestyle- Millennials are seeking to rent rather than buy.

Millennials, move-up buyers, 50+, who? 

Millennial also all first came into the housing market while they watched their parents lose their asses, they make life long renters, also the baby boomers...they are downsizing, want an ease of living and don't want the maintenance...great renters.

Here are two posts that cover the local market:https://www.biggerpockets.com/forums/621/topics/398662-heres-what-fixer-uppers-on-the-mls-are-selling-forhttps://www.biggerpockets.com/forums/621/topics/396725-millennial-migration-to-sacramento-2017---here-comes-the-rushIn sum, buy and hold is looking good (particularly 2-4 unit multifamily)  and flipping is ultra-competitive and you're really going to work to find a deal.Check those posts out and then let us know your thoughts and we'll be able to help guide you further in the right direction :-)

Right now there is a huge surge of Millennials moving from the Bay Area to Sacramento, which is driving up prices and rents like you wouldn't believe.

Interesting article on the future of REI and the changing rental market from Morgan Stanley.https://www.morganstanley.com/ideas/millennials-generation-z-housing?

I have an applicant for my one-bedroom shared condo who lists his job as a property manager for a company that he owns.This property generally attracts college students and millennials just starting out.Why would a 50+ real estate professional want to rent from me?

If you’re optimistic I could see saying something like having a good strong market for the next couple years with maybe a small blip, but to go out further is just absurd.I do think millennials will start buying more houses in the next 5 years or so and that will keep a strong demand for housing