If/when we have a recession it's going to hit silicon valley hard.  

The other big risk with any investment right now in the AV is that the market is fairly high right now and historically this area gets absolutely hammered when a recession comes ... it always comes back, so if you are a long term investor it won't matter as much, but something to be aware of and carefully structure to ensure that you can hold through a downturn to make it to the long term.

.- Looming recession :)?

This recession has been extremely hard on new residential construction, and not left us with a lot of extra cash.  

Barron’s recently reported that despite the turbulent markets, it expects the U.S. economy to avoid recession and grow at a 3% pace in 2016.

What happens if we go into a deep recession, (Which is never out of the question) and you lose your job?

I think the U.S will enter a recession this year.

However, if you wanted to give this kitchen a make over thats fairly cheap I would replace the lighting to recessed lighting (50$ bucks a can, probably only needs 3).

I am in the process of re-expanding my business after the downturn of the last recession.

Because I was lucky enough to be in the market in the Great Recession I got good deals and they have appreciated fairly well.