How does real estate perform during a recession?

[Alex Silang]

I'm just concerned my six months worth of reserve will be enough. RE as a community we always talk about the wins. That's important. But I'm just wondering how RE performs during recessions. What happens when unemployment rises a high amount? 

I was asking a manager in a meetup and he actually said tenant quality increased because a lot of people who were foreclosed on were now renters. Not trying to sound happy at others misfortune, just stating a data point to get the conversation started.