What’s the real downside of a market crash?

[Rich Rodman]

Hey BP community! I own a few units in Cleveland and live in San Francisco. I was rather young for the 2008 crash so I don’t have the hands on experience in a down market. What is the realistic downside of a market crash when you own Real Estate? Is it that your tenant might lose their job and not be able to pay rent? Is it that you have a likelihood of losing your job personally (although I don’t know how this would affect existing real estate investments negatively)? May be a negative question but I’m curious how this plays out.