Even though it is approaching rental numbers, don't you guys think that this area could depreciate more?
Yes. And the reasons are:
1. In a correction, prices always over-correct.
2. At some point in the future, when prices are low enough, investors will scoop up these properties & put them on the market for rent, thus, increasing the rental supply & result in lower rents. So, the "floor" (i.e. rents) is not static, it can move down.
And of course, there is the possibility of a recession.
