Every investor has a level of risk they take in a deal.I like vanilla deals.I don't like something that might bite my in the #ss later on.There are many ways to do a deal.The question is how close do you want to play next to that flame before you get burned??

So if you have a high level of occupancy and a low level of vacancy there is not much "unspoken" upside for you to find.

So don't look at what the market is today look at what the saturation levels and pricing will most likely be when you come to market with a finished product.Don't be too rosy in your projections.This is what killed many developers who used high leverage and bought in 2007.They overpaid for the old building or land,used too high an ltv (90%),and had high rents expected on the cash flow which skewed the projects anticipated returns.When things finally came to market debt service was high and rent income was low and many developers with non-recourse walked.Today everyone wants to nail you to the wall to lend any money so you have to be ultra conservative in your numbers.

Your income level will determine how much this will actually help you, if at all.

It will not return to the levels as it once was.

You experience will serve you well as you look to start fresh and operate from a more professional level.

Middle to upper end unit just the DW.

What risk level is there with staying put, vs. doing something different?

You do this through inventory levels and driving the neighborhoods.Second, you must know what comps to use, what comps to toss, and of the used comps, how to adjust for accuracy.

Jon, what would you say is a healthy level (%} of home ownership in the US?