There is a real affordability crisis and a renter that qualifies for $1300 rent must gross $45k/year.

. - clevelandhttps://www.cleveland.com/metro/2011/09/32_people_indicted_in_cuyahoga.htmlAll but a few of the properties were on Cleveland's East Side, which has been ravaged by a foreclosure crisis fueled by mortgage fraud and subprime lending.CLeveland, Ohio - Scams, reviews, complaints, lawsuits and ...https://www.ripoffreport.com/reports/nations-lending-corporation/cleveland-ohio-44130/nations-lending-corporation-mortgage-lender-deceptive-practices-cleveland-ohio-565524Jun 10, 2011This is the best way to manage and repair your business reputation.

I think stating that Phoenix was the "epicenter" of the last housing crisis is pretty far stretched. 

I'm sure the pensions would certainly like to do the same since they are unable to reach those numbers themselves and rapidly moving into more and more toxic assets to try and make up the difference since they are dramatically underfunded, poorly managed, riddled with corruption, pay an enormous amount of money to Wall Street in the form of unreasonable and usury level management fees, and soon will be our next worldwide crisis that unfolds. 

The people I know who went broke in the last crisis were A) Highly leveraged flippers in high-end areas who were stuck in big projects when the market turned down, or B) Highly leveraged landlords in high-end areas where the population dropped sharply because of industry downturns. 

Account ClosedSo you are trying to avoid a specific crisis, a mortgage / lending one. 

In order to solve the affordable housing crisis, we need all types of housing, so it's important for developers to understand how affordable housing is defined and financed.

But in times of crisis people can choose not to buy second homes.

BSME, MSIE.I like many here had started getting disillusioned by a 8-5 job, and had started dreaming of working towards hanging up my W-2 boots one day and be in RE business 100%.But this latest crisis seems to have scared me straight.

I knew that the low prices were about more than the foreclosure crisis.