But that was potentially one of the worst recessions we will see for some time and the housing market can decline, but unlikely it will be as bad as 2006 - so many different rules in place to ensure better mortgages.With that said I understand the unlikely can happen - but I am not refinancing my BRRRR properties to pull cash out-  I am just rate term refi - so I am at 65% ish LTV or less on most of my loans. 

I don't own anything in north Minneapolis and am concerned about the area given the state of Minneapolis- Buying into a decline? 

In the past couple of years, it made since for us to cash-out refinance (i.e. the traditional BRRRR method) because the interest rates kept declining.

California realestate prices are falling so quickly that Zillow sent me and a few other SF bay area investors an email stating that our ZILLOW prices might be incorrect for the next 6 weeks while we compute the new declining market values.

Hey @Jason Jenney,    I've been actively investing in Syracuse for the last 3-4 years and I feel like there is plenty of money to be made here (and though the points made by Michael P. about declining population are valid.)

Since 2015 at least in DFW when you look at purchase price to rent, the rent ratio has been declining.

Closed sales have decreased from 8,217 to 6,575, a 17.8% decline.

Added expense and declining occupancy.  

A 10% decline in value would have resulted in a $10K to $60K projected profit. 

(Nothing is perfect in construction)Pros : New construction for residential homes in this area has taken a steep decline.