Investors are roaming all over the country buying these types of properties.

There aren't that many asset classes that are blowing out amazing returns right now, so you might as well keep it in.

We're having a $100 million, trophy-building-a-day kind of year in sales.

It's taking place in all the areas where single-family homes are becoming unaffordable for your average first-time or middle-income buyer. Not that many people can afford a half-million-plus for a starter home.

From a consumer standpoint, there's an incredible need for these types of properties in that many travelers to the city are priced out of full-service and luxury hotels.

Because the market was so hot, investors were buying everything. It was like a frenzy with prices going up so fast.