It's an interesting correlation he's looking at...he's basically devaluing homes in comparison to personal income data over the years. 

markets were flat through the middle 90s then started to roar back and by 97 made up the loss and by the peak of dot .com bubble made new highs.. then dot.com bubble hit and you have moderate negative impact on RE values only to come storming back and make new highs going into 08  GFC  but then the values dropped maybe 10% for prime BA RE.. not talking out in the Sac valley or other areas that got hammered with 50% devaluation because of extreme over building by the new home builders. 

Giving away money every month by supplementing your tenants rent from your pocket and devaluing your property  based on cap rates.A investor that does not realise their costs increase every year and therefor increase rents to maintain or increase profits should not be in business.

You plan doesn't devalue a market value, the seller could care less.

You could jump through hoops and get a "Letter of Environmental Protection" which will allow you to rent to families, but it will devalue the property and increase insurance rates.  

If any or all of these five were to go into a sovereign debt crisis, they could exit the European Union and start devaluing their currencies.

The likely hood is that if it is in a B class neighbourhood and they are building several it may devalue the area.

In Memphis for areas that will rent well and are unlikely to devalue stay about 60K.

The language is broader in the policy and may respond to the claim, which I see as a overall devaluation of the building if 1 pillar is different than all the rest.You property policy will be more restrictive. 

For once the currency gets significantly devalued, the national debt amount owned looks relatively small.