People in deep general depression and stress-related cognitive dysfunction, age-related dementia, paranoia, schizophrenia, all kinds of things.

On the surface it seems with low inventory and higher costs even for depressed properties it is better to fix and flip until the market adjusts a little bit. 

I know this guy that does STRs in a depressed refinery town. 

Got a guy 86 years old born after the Great Depression still waiting and swears this is the big one.The biggest problem is if prices drop, then you'll wait for the bottom. 

The market is crazy hot even though unemployment is still higher than any point in history since the Great Depression.

Considerations:The building is pre-depression built (1920’s), it is about 400,000sqft across 25 floors, located in a B tier city.

In 40 years in the business the only deals I’ve seen successfully wholesaled while on MLS were in times of real estate depression, with few buyers.

Many homes were bought by investors in the 80's and 90's when everything was super cheap and depressed here...they finished the basements and added 2-3 bedrooms. 

I find this sort of macho-pretense disorder to be four or five times worse among male real estate agents than your average dude.So I would never trust a real estate agent to tell me how much a house would cost to renovate and how I should renovate it.

We have 59 units and (mostly untreated) mental illness and personality disorders have (likely) been the underlying causes behind the aberrant behaviors that have prompted every single non-renewal and eviction that we've had in the last 5 years (expect for the drug dealers- who we also non-renew but they are easier to work with).