I was buying SF as fast as I could when prices were depressed.  

It is a little depressed in spots, and like much of New York, the properties tend to be quite a bit overpriced compared to rents, and once you factor in property taxes and other costs.It could probably make a very nice place to live, and we almost pulled the trigger on a place there before deciding to move to New Hampshire instead.So why didn't we buy in Saugerties?

I’m only seeing more rental inventory coming on line that will further depress rents. 

Got a bit of depression and constant asking myself why do you always do this.

Although I amIn an urban environment, the market hereIn Rochester NY is depressed.

I've owned hundreds of tract of land and what you realize but most people don't is that lots were much harder damaged in the Great Depression of 2008 than either houses or apartments!  

We have a similar housing stock in Milwaukee: most of the city was built in the early 1900's - about 100 years ago by German and Polish immigrants. then the great depression hit followed by WW2 - we have almost no houses dating back to those years.

Cap rates fell below safe investment rates, so I accelerated my 'retirement plans' by 90% exiting my commercial MF with seller contracts and moved more into depressed equity issues and sectors. 

Either your city has a depressed economy or this applicant has a poor skillset. 

After some quick research and driving the city, it appears that there is a lot of old depressed housing stock that could be a capex killer to hang on to.