I have no doubt that cap rate compression will slow, I just don't think interest rate spikes are totally to blame. 

They usually exhibit a “flat” growth curve with no major spikes or declines.

This should be set up as a private equity deal with one or two well heeled investors. 

I wrote that article several months ago when rates had spiked.

Construction costs are spiking, making it impossible to replace product that rents for $800 - $1200, which happens to be the range most can afford.

I also know the California real estate market can be a little volatile, which could work in my favor if a large spike goes up.

Sometimes the spikes and surges from those can fry things.For "no heat", it could be one side of the 240 V to the dryer missing, a bad heating element, bad regular thermostat, bad high-limit switch, or bad control board.

Appreciation spikes (both positive and negative) are much smaller in Kansas City and other Midwestern cities than say on the east or west coasts.  

BP Community!First and foremost, I hope each and everyone of you have a prosperous Merry Christmas and Happy New Year! I'm sure most of you have already heard about the FED's raising the interest rates this past week....

I don't know why the spikes there.