@Joe Splitrock I think the findings of the studies about income (not wealth) is that there is a dollar amount where happiness peaks, and having an income higher than that doesnt increase happiness.

When you reach that peak, the feeling you get is really amazing!

If you are going to keep out anyone that has or does smoke weed recreationally in your park you should go there on a Friday night after payday around 10:30 and start knocking on doors.Take about five notices with you for violation of leases because my bet is more than half of your current tenants are lighting up already.Especially if they are not elderly tenants.Look at it this way, if you are above the age of 30 and your skills and education have you peaked out at a career that will only provide renting a trailer in the midwest you probably are not making choices like where am I going to send my children to college, is our passports up to date for our summer trip to Spain, where can I get my BMW serviced?

But I sure get the premise in many markets were houses peaked in the 80s and have been steadily declining ever since.. you can find all sorts of homes in rural America and rust belt cities for FAR less than replacement costs.. so it becomes school.. do you like to pack up and move if your landlord says he/she is selling or they lose the house to foreclosure  etc etc.

In this scenario, person A is going to be making WAY more per year on their real estate than person B. Yes

I sold a house and bought three new houses, rented them out, all while working a high end IT job making 155K a year at it's peak.

When I look st graphs on zillow it's definitely peaked.

You may not predict the peak, or the bottom, but at least if you understand trends you can see something major coming and get out to protect the majority of your asset.  

Cleveland reached a population peak of 914,000 in 1950, but by the 1960s the economy had slowed and residents fled to the suburbs.After years of decline, Cleveland is today viewed as a great example of revitalization, and it now ranks as one of the most livable cities in the United States.Between 2000 and 2010, Cleveland lost 17% of its population, and some neighborhoods -- including Glenville and Hough -- lost up to 38% of their population between 2000 and 2007, although downtown Cleveland has gained population.

A great deal at the peak is most likely still an ok deal with a correction.