@Mark S. you can go into the application and cancel/decline to sign the docs.

Not to mention an area with no appreciation is most likely in some phase of decline, and decline means lower revenues, right. 

That is what's insulating from a sizable decline in prices. 

The greater Austin metro had a slightly lower annual decline of 10% to a median price of $462,000.

Population is slowly declining.  

I like to view the last 10 years and make sure there is no decline in numbers.

When your 401k and property value start declining the first thing to go are the extra-curriculars - eating out, vacations, vacation homes, new purchases, etc. 

But tenants move on to buy their own place, move out of state etc and I shred their info.I do keep a list of those inquiring and if they were turned away why, also any declined applications but approved and gone for years seems overkill.   

In the summer of 2018 I noticed a sudden/drastic decline of drug sales.

The only way to sustain your current lifestyle is if rents and prices keep up with inflation.Prices and rents are determined by supply and demand.When population growth is stagnant or declining, the current housing inventory is sufficient and rents and prices rise slowly or not at all.