Reminds me of a Richard Branson quote responding to the age-old question of how to become a millionaire - "Start with a billion dollars..." 

There was a billion dollar class action lawsuit against the manufacturer in the 90s and polybutylene can no longer be used under US building codes.

Texas, Florida and California account for 40% of future demand and will collectively require 1.5 million apartments by 2035.Apartment construction contributes $150.1 billion to the country’s economy annually, creating 752,000 jobs.

Hold the news, sure there’s a few billion in new construction and and remodeling, but one guy who owns one property is selling it?

One notable company is Intel in Chandler who just finished a new fabrication production facility, a $7 Billion investment said to be the most advanced in the world, adding 3,000+ high-tech, high-wage jobs.Many schools in the vicinity are regularly ranked among the top in the state, there are numerous opportunities for great shopping, restaurants, coffee shops, entertainment, parks, etc.The rent/price ratios and cash flow/appreciation one can achieve especially in Gilbert (next door to Chandler) are excellent and I've helped clients purchase roughly 25 homes in the last couple years that fit the same model - relatively new (built in the last 10ish years - newer roof, newer HVAC, etc), reasonable HOA's (around $100 or less - which includes access to a community pool for tenants, front yard landscaping, playground/parks, etc), easy access to freeways, good schools, etc.

Houston Real Estate Highlights in JuneSingle-family home sales rebounded from two consecutive monthly declines, jumping 15.7 percent year-over-year with 9,328 units sold;The Days on Market (DOM) figure for single-family homes grew from 50 to 56 days;Total property sales soared 18.3 percent with 11,153 units sold;Total dollar volume climbed 15.1 percent to $3.3 billion;Single-family home sales rebounded from two consecutive monthly declines, jumping 15.7 percent year-over-year with 9,328 units sold;The Days on Market (DOM) figure for single-family homes grew from 50 to 56 days;Total property sales soared 18.3 percent with 11,153 units sold;Total dollar volume climbed 15.1 percent to $3.3 billion;The single-family home median price set a new record high of $262,000 as it rose 3.6 percent year-over year;The single-family home average price declined 0.6 percent to $319,881;Single-family homes months of inventory was at a 3.2-months supply, down from 4.3 months last June and below the national inventory level of 4.8 months;Townhome/condominium sales reversed three monthly declines, rising 1.9 percent, with the average price down 5.4 percent to $212,216 and the median price down 1.8 percent to $174,350;Single-family home rentals jumped 15.3 percent with the average rent down 1.0 percent to $1,906;Volume of townhome/condominium leases was unchanged with the average rent up 7.9 percent to $1,731.

https://www.har.com/content/newsroom/Houston Real Estate Highlights in August:-Following a record-setting performance in July, single-family home sales held to positive territory again in August, rising 6.0 percent year-over-year with 9,195 units sold;-The Days on Market (DOM) figure for single-family homes lowered from 53 to 51 days;-Total property sales rose 7.3 percent with 11,121 units sold;-Total dollar volume jumped 13.4 percent to $3.5 billion;-The single-family home median price rose 7.6 percent to $269,000 – the second highest median price of all time;-The single-family home average price increased 7.8 percent to $334,256 – the second highest average price in history;-Single-family homes months of inventory registered a 2.8-months supply, down from 4.1 months last August and below the national inventory level of 3.1 months;-Townhome/condominium sales rose 1.3 percent, with the average price up 4.5 percent to $216,733 and the median price up 1.7 percent to $175,000;-Single-family home rentals dropped 13.3 percent with the average rent up 2.3 percent to $1,961;-Townhome/condominium leases fell 13.7 percent with the average rent up 1.0 percent to $1,654.

While a great deal in any market trumps sitting on the sidelines any day, thats just a bit of knowledge that came from someone with over 1 billion in real estate assets. 

They help manage billions of dollars so it’s really their job to know this sort of thing.So personally this may make me more conservative or slow buying slightly but that’s really about it.

I have an 18-unit in Cleveland.Pretty much stabilizing for this first year, getting rid of inherited deadbeat tenants etcI have gone to Cleveland twice since acquiring the asset in September 2017:once during initial due diligence and I just came back from walking all units again with my PM last week.Wouldn't have it another way.Much less involved in it compared to my local Jacksonville buildings as my PM as been awesome in communicating.Oh by the way,I read this recent article on BP condemning Cleveland and Memphis to the bottom of some list of "6 cities"...I have no idea why people make these sweeping generalizations based on some graphic or data.It's like a girl saying to herself:"most men cheats I'll never fall in love".It's easy to write an article or create a spreadsheet while drinking beer in your man cave.I just returned from a week of walking the streets of Cleveland taking in the billions of $ in new investment in the downtown area and east of the Flats where an unbelievable transformation has happened since I last lived there in 2011.Vacancies are down, rents are rising.Yet some guy who's never actually been to Cleveland sits somewhere in LA and writes articles about how net immigration in Cleveland is negative etc.Hilarious.