I'm in the general Phoenix area and have been keeping half-an-eye on the real estate market for about six years. This is an aspect I had not looked at.
My parents bought a condo in a converted apartment complex in suburban Chicago two years ago and the market was hot hot hot then; they almost didn't get in because they couldn't sell their house quickly enough. Now they want to sell but can't move the condo and half the units in their complex are now owned by "investors" who are renting them out.
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