When time was good,paid down mortgage, not over spent on luxury stuffs,which lower their overhead expenses. Spend more money on maintenance, keep property in good shape.
When time is bad, with lower cost, they have room to cut their rents to be competitive.
Right now, with no money on hands, they are out of their options.
Do know people bought at high, now market price 30% lower than their purchase price. With conservative management, right now, they are still expanding.
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