It could be even worse if there is a recession when you go to sell, because property values in vacation markets are the first to take a hit.

This will also drive a shift in the market as competition heats up for the newer units.Also, according to economist in the area, we are heading into a recession in 2018 and that will likely have an impact too.Bottom line, most investors believe we have hit the top of the curve in the area. 

Some say sell or cash-out refinance enough properties to have enough cash reserve to support minimum 5 years of recession and assuming 30% rent drop; in addition, keep the short term loans LTV below 65%, so the 65% LTV can survive a longer recession (such as 10 years recession) by able to refinance the same loan at 75% LTV to another 5 years (assuming a 32% house price drop in the first 5 years).

@Jonathan Edmund   Congratulations,  you are on the right path,  I have been an agent for more than 13 years,  at the beginning I got my home but that was a big mistake, when the recession came in 2008 I lost almost everything, that was a great thing to learn, not I am renting but have great portfolio of rentals,   your home will not make any money for you,  rental yes,    good luck 

They remodeled a bathroom and installed recessed lighting in my kitchen, and I was satisfied with the work.

For instance, if your personal balance sheet is robust you can ride out a temporary dip in valuations (due to a market downturn/recession).

That is a down side as most recessions follow rises in interest rates.

I hear the news, newspapers and some TV “experts” say a recession is at the horizon.  

Do you have a guess on when they next recession will hit and why?

New distressed flooring throughout, freshly painted interior with contemporary paint colors, new baseboards, ceiling fans, recessed lighting, remodeled master bathroom and additional full guest bathroom.