Cheers mate,I've said it so many times before.Who is not happy from within, will never be happy with anything or anyone else.Many unhappy folks look for a victim, be it in their personal life or a business.Like a drug to an addict.They thrive on drama, disputes, problems, arguments, etc...Simplicity, common sense, higher moral thinking aren't an option.Procrastination, fear, complexity, disagreement, doubt, jealousy, greed, etc... is what drives most of their psyche.I've had thousands of investor calls over the years and can literally predict exactly what to expect based on demographic, culture, nationality, age, etc... and by listening to the questions.But sometimes, I read it wrong like in this instance. 

And I'd also suggest to start getting into uber-stable markets for this, Midwest, upper-Midwest, because TX has had too much and too fast a growth clip and what you need is very plain, boring, vanilla, RELIABLE, CONSISTENT, PREDICTABLE boring assets to add to your portfolio.

And the predictions for higher home prices keep being revised higher.

It's like predicting the weather, and things can change fast.

Could you have predicted a rise that we have had, most likely not - but interest rate risk is one of the greatest factors in MF investing.

Find out if rental costs are predicted to rise in the future by researching trends and predictions.Long-term appreciation in real estate is not a given, though.

I like this far more than owning a property (especially if you using your retirement funds) for few reasons: 1) This is totally passive investment (mailbox money), I get the check in the mail monthly of electronic debit in my bank account2) Fixed, predictable returns.

To your questions:I believe the confidence level has to do with the confidence of their rent/price prediction.

Beyond what is right and wrong, is what is most likely to occur..my forecast is based on an initial knee jerk reaction and subject to evolve..My prediction is that buyer(s) will still want (and need) to be represented, but likely at a lower average cost. 

Just remember that you have nothing to do with how they got themselves into their current situation but unlike the stock market in credit situations past performance does predict and sometimes almost guarantee future results.