The problem with out area is it is still expected to grow for many more years and as you know we have a huge housing shortage :/

Yes, we have reached 2008 price levels, but with the growth rate here, shortage of homes (builders are selling out before even building), job growth, low unemployment, etc... not to mention a smaller scale tech boom out here, I'm confident with purchasing a rental to add to my portfolio.

Northern Nevada is experiencing a major housing shortage, especially when it comes to SF homes available for rent.

Shortage of affordable living is a bigger concern in bigger cities than a recession in my opinion.

This is a down payment assistance program for homes Located in 61 designated zip codeshttps://www.michigan.gov/mshda/0,4641,7-141-7559_9637-480294--,00.htmlThere is also a program called “Detroit Home Mortgage” which can provide financing to cover an appraisal shortage up to 75k!!!

It might not be conducive to this market since there isn't a shortage of rentals on the property isn't in a college town or near the downtown area. 

I have been hearing from numerous investors that the Chicago area is running into a shortage of skilled contractors which is causing projects to be more expensive than people estimate.

Even with the current conditions... most DOM's are less than last year.https://communityimpact.com/houston/tomball-magnolia/housing-real-estate/2020/07/07/homes-in-tomball-magnolia-selling-faster-despite-pandemic-housing-shortage/

They see the shortage of houses and the demand for rental houses so they go for what’s easier and faster.

That shortage does not simply get plugged in and you are fine, since where the cash flow is realized matters in time and increment.