The area (and subsequently prices) is certainly depressed having lost any major shopping and a large car dealership years ago, but the base will still produce a decent tenant who wants to live in a nice home close to work.If you have to travel to the Pentagon or Navy Yard, its proximity to the DC Metro area, recent upgrades to Rte 210 and the Wilson Bridge make it a decent commute if you leave early enough  Traffic and crime are two major considerations when looking at Waldorf.  

Yeah it definitely seems like optimism is back up and multi family inventory is back down although it seems like prices are still somewhat depressed.

I live in a depressed area mostly consisting of low income families.

Yelling at the tenant will do no good as he's suffering from depression and moving home to mom, and on top of which he's too tired to shave or bath apparently.

Longview/Kelso is depressed since logging was shut out because of the Spotted Owls.

It is very rare to see a major correction or "Despair" as your chart would indicate.Remember in the 2008 financial crisis what Obama kept saying, "greatest financial crisis since the great depression".

I am now starting to see that she was kind of depressed because of a series of bad events in her life plus not having any clue what she wanted.

Back then I decided that RE investing is not for me and have been living with a sort of a "mild form of background depression caused by missing real estate". :) I LOVE RE!

Since home prices are so cheap/depressed in some markets in the midwest, I am not sure if people would buy condos vs buying a cheap home - especially if a condo could cost more.

@Jay Hinrichs  It is depressing to compare the United States to the many countries with higher qualities of life.