With talks of recession why wouldn't I just buy cheap?

[Gurjot Grewal]

With inflation from my understanding two things will happen. Either rates rise to the point where they lower inflation but we risk economic slow down, job losses, deferred debt etc. If the economy slows too much they may start cutting rates leading to more inflation.  

If rates rise, sure prices may come down but mortgage payments will still be unaffordable for most, and rents will go up. If they cut rates then more people are likely to park their cash into an asset like real estate leading to an increase in prices.

This is all new to me, im trying to educate myself. Im a Canadian looking at US real estate. My plan is to buy my first place before the end of the year, use the cash flow to finance a car.(Car accident led to my car getting written off) 

Theres something to be said about cities with economic diversity, maybe these areas will be more resilient. But why not just go to the cheapest market? Even if it drops by 10-20% if you cash flow long enough you can atleast break even. Not to mention as it gets more unaffordable everywhere else, people may migrate to where it is more affordable at times like this.

This is my thought process. Am I completely off on this?