Therefore, I will NOT buy and in some cases, move to another City and lose out on the phenomenon known as Brooklyn.Now that I have done incredibly well from taking advantage of the obvious signs, even despite major downturns like the Great Recession, my friends and Family put me onto a pedastel as if I am somehow different than they are.

Your question comes up a lot, should We wait for next recession or until market starts to turn to start buying?

During and after the Great Recession, I worked with the FDIC and several banks in disposing of thousands of REO property.

The price range of $1000 - $1500 should not experience any issues in a year's time and likely aren't now.My concern is with increased rent concessions, it may be foretelling of an impending correction, slow-down, or recession. 

I grew up in small town Midwest and I️ didn’t even realize the recession was going on.

There are extensive studies that prove that commercial MFs (100+ units) are much more recession-resistant than other asset classes.

Since this thread was revived, here's an update:-  The Book on Flipping Houses is on Audible-  The Book on Negotiating Real Estate is on Audible-  Recession Proof Real Estate Investing is on Audible-  The Book on Estimating Rehab Costs is NOT on Audible, as it contains a lot of charts, which wouldn't translate well to audio format

If your area has not moved much when the next recession hits your area in not distant future I can see you be losing more home value. 

Similar to the 08 housing crash oil is bouncing back from a huge recession and that affected the research and development of many of the big companies thus removing a large potential supply of oil from future production so it may catch up to us just like there’s a housing shortage in many areas now because of how many builders went under from the GFC.

In 2008, I noticed that his area did not really take any major hit to home price, maybe stayed same or bit lower, during the recession that hit silicon valley.