Overleveraged+recession=capitulation

We're in a unique situation where sometimes onerous laws against building new units and an economic cycle where many homeowners haven't been able to buy a new home since the last bust and are just starting to do so now (at extreme valuations imo) results in renting remains expensive for a variety of reasons. But watch out if people start to move away from key cities, telecommuting becomes more acceptable by employers, and/or a weak job market comes in place. These will all drive people towards more affordable cities and locations and away from some of the higher profit rental areas.

Nothing is guaranteed, there is no such thing as "get rich for sure", you have to time your entry point and there is a reason why large investors pulled back from their single family homes exposure a few years ago (look into how they IPO'd and sold their divisions involved in this) and in recent years investors have pulled back from investing more into real estate, with first time buyers taking up the slack. Right now it's a sucker's market if you're overpaying for property because we're clearly at or past the curve of both rental prices and unit prices in a lot of cities.

And don't even get me started on how much of a ghost town all those running joke deluxe condo units are going to be in a few years' time.