With a shortage of units available, it can be that the NOI will actually increase which again moves the CapRate upwards.Now if by downturn, you mean total economy recession or depression where jobs are scarce and wages are falling, then that's another matter.

When I asked my dad if we're going to have a recession soon, he said, 'Don't ask me, I'll ask you.

The AV tanked last recession.

Someone suggested installing recessed LED lighting in the common areas (living room & kitchen), but I feel like the ROI on this wouldn't be that much higher. 

Normally oilfield construction is up to 5 years ahead, so ya the signs are here in this Alaskan market that it's going to get hit again with a recession waiting for the next big oilfield boom.My suggestion to anyone is avoid the big high priced markets.

Currently the home prices across the nation are at, close too or above recession prices.

Taylor will be the next Hutto, but this will take a whileManor - Manor built some new subdivisions years ago that caused many people to lose their homes in The Great Recession because of high MUD fees and such.  

I have worked regular W2 jobs with minor savings and went through that, staying afloat through the recession.During the recession, I was laid off 5 times.  

When I lost my job in the Great Recession I decided to cash out my 401k and purchased another property.  

He follows the stock market and the global economy very closely and from what he has said to me, he thinks that the "brexit" is going to send Europe (and eventually the US, among other countries) in to a recession.