You are getting the interest because there is a serious housing crisis. 

While NYC rents hardly EVER go down and only for a short period of time during extreme crisis, even in severe economic strife, you need to understand that other Investment properties outside of Major Metro areas may not fair as well.

That's up to the Investor as Risk Tolerance is all individual.In fact, I know people who would not Invest in a CD but put their money in their Mattress because they fear a Bank Run like what happened in Greece over the Financial Crisis.

It's not a real financial crisis unless you have peeling paint everywhere.

I've been renting in Arlington and McLean for almost five years now and couldn't find a good investment even during the foreclosure crisis.

No foreclosure crisis this time. 

I'm impressed that Josh took a more diplomatic approach!

Hmm, @Ibrahim HughesChase took over all of 1st liens and 2nd liens from WAMU during the crisis.

My 10-Year Odyssey Through America’s Housing Crisis Misery over real estate hasn’t ended—2.5 million homes are still worth less than their mortgages.

I heard something about SD waiving ADU permit fees due to the housing crisis.