That being said, after modeling dozens of properties up there it doesn't matter what cycle of the market you are in up there (unless you are investing solely for appreciation which I wouldn't suggest doing right now), it's really about rental and occupancy rates and how they align with whatever your investment goals are.  

I think we can rely on our never ending government to pull a rabbit out of their hat and some new cycle will pop up causing another real estate slump or boom.2024 brings a new presidential election so buckle in for a crazy show!

It has to be late cycle and self storage is not bullet proof.

I've only been investing since 2017 so my experience w/ cycles is limited/nonexistent. 

This starts the renting cycle for most renters and they typically stick to that same cycle.

And last 12-24 months they (banks) are starting to see the cycle getting a little long in the tooth and are tightening.And the more properties you acquire the lower they will want your LTV, but also lower the rate you will get quoted.Matt

Part of its politics, part of it's the cycle of drug use, poverty, teenage pregnancy, violence, etc that in turn leads to high unemployment, poor schools and blight. 50 years of poor tax revenue have left the city with crumbling infrastructure.

Most new investors, myself included, fail to properly weigh the impact of variables beyond our control—like market and market cycle conditions—into the success (or failure) of our investments.

These companies predicated on agent growth and expansion can bite the dust when the normal economic down cycle happens and only the old guards are still doing transactions.When the down economy happens the buyers and sellers tend to use brokers and agents that have been through cycles and have the experience to navigate the choppy waters.

Like @Lucas Carl I do this manually and it helps me build a better awareness of what the local market behaves like across the annual cycle.