As a result, they have been able to purchase on the ground floor of a rising market sub-segment.

This segment of the market is *extremely* seasonal, and is generally is hit the hardest in December and Mid-Summer.

Im not sure its all FoxxCon. in my market, my own homes ARV Has risen dramatically, I purchased in December for $110K (needed $20K rehab) with ARV of $170K today I could list at $199K and possibly have it bid above that, supply is tight in many markets, and in my opinion we may be on the cusp of the Euphoria segment of the cycle hitting is in spring of next year, Projections I have read from WRA and Zillow show expected price appreciation in my market north of 9% by this time next year.

And while it's still too early to tell how Opportunity Zones are going to affect lower income and other under represented segments, there is still quite a bit of housing stock available for rehab. 

You won’t run into competition on every single deal, so you have to find that segment of the market that will work for your scenario. 

Just buy another building when the tax law changes and use cost segmentation to accelerate the amount of depreciation.

So while I think your right it affects a certain segment of the market in my little world does not appear to be slowing anything down there is still a shortage of housing.

of course this is where a developer comes to play .. and since I am a small time one.I can tell you that in markets that are robust.. land is a premium.. if it has to be subdivided and infrastructure built there is a small segment that can do those and have the means to get financing very tough..  

Typical new build will have primarily 3 segments for value creation 1.

Being a big Audible fan the Famous Four segment is drumming up quite a bit a business up for Audible.com as I keep buying books and running out of credits lol.