This does happen, but we also all know the stock market since March of 2009 has delivered unprecedented returns, and almost everyone on Wallstreet agrees this is a sheer impossibility over the next 5 years.  

Account ClosedWhile the 1 percent rule may have served well as a screening tool in the past, it’s not helpful in the current moment, of home values soaring at unprecedented rates and interest rates still near the lowest in history.

Simply type "(City Name) Real Estate" and check the news section on Google for a plethora of headlines about the local market.Here are some recent examples for Sacramento:Home-flipping: How the Sacramento area compares to other marketsRedfin says Sacramento’s Hollywood Park neighborhood is one of the nation’s hottestElmhurst residents fight against real estate agent’s plan to open neighborhood officeCommercial Marijuana Growers Buying Up Space In Sacramento At Unprecedented RateSacramento apartment occupancy rates suggest rents going higher, report findsHere are some examples for Livermore, CA:Major Bay Area apartment operator sues Airbnb, alleging 'illicit subletting'Council Votes to Move Historic Train DepotBURGLARS STEAL APPLIANCES FROM HOMES FOR SALE IN LIVERMOREShopping center and hotel project slated for LivermoreTesla snaps up huge warehouse lease in Livermore, highlighting car ramp-up plansSo, how do you interpret these headlines? 

It is unprecedented as they mentioned and hard to say what happens next other than perhaps expect to reduce some rents for a bit/years.

We saw a lot of this from 2008-2011 due to homeowners experiencing adjustable rate loans maturing, prepayment penalties, and unprecedented levels of unemployment, death, divorce, and disability.

I know we are all excited to see the ripple effect this will have in Gastonia, and how unprecedented it really is.

Here are the numbers:Expenses:PITI:  $1695 / monthHOA:   $325 / monthProperty Management: $145 / monthIncome:Rent:  $2,600 / monthTotal profit:  $435 / month (~$3,000-$4,000 a year due to occasional repairs).With rents continuing to rise at unprecedented levels and home prices expected to appreciate another 15-20% this year for San Diego County, it seems silly to sell at this point with a cash flowing rental property.  

...the housing expansion between March 2020 and now is still very likely to go down in history as blowing unprecedented amounts of air into an unprecedented bubble.not only that . . . 

While company like Amazon could gain unprecedented business by having its own delivery service.   

Both of our governments have been doing unprecedented things with money supply, interest rates, and cooking the inflation books.