We’re over the apex of a bounce. Prices are higher than they were in 2008/09, but lower than 2010 (mine is down 5% from 2010). It’s hard to tell what prices are doing now – I’ve seen some great buys and some oddly high prices.
I bought at the 2010 mini-peak, but my place would still have $600/mo positive cash flow.
Still a good place to invest, IMO.
As for quality tenants, the bubble created a ton of them – maybe not the sharpest tools in the shed for buying at the peak or pulling money out, but that doesn’t matter as long as they’re stable. For example, the renters next door to us are very nice, non-redneck, employed strategic defaulters with a couple of their own rental properties out of state.
