Neighbors’ values? Low housing values are a good thing in the long run. They allow Gen-Y folk to buy in comfortable areas and derive rental income, while kicking the butts of X’ers and boomers who overpaid anyway.
In short, people who rode the gravy train too long are getting the shaft and it’s karmic justice in my book. <3
And yes, a lot of the properties that are available are in poor shape. But if they end up sufficiently cheap, they can be fixed up -- investing should be about sweat equity AS WELL AS passive activities.
