There's the idea floating around that much of the reason REI and the stock market have done so well this round is because of the money that was pumped into the system during the GFC, and it's not because there was anything special about the fundamentals of any particular asset class. 

There's also no fundamental reason to believe this will be similar to the last downturn, but the panic feels pretty similar. 2.

If you're focused on the fundamentals and you're underwriting conservatively, a good deal can still be a good deal in times of uncertainty.

Many markets are oversupplied with Self Storage, and the fantastic fundamentals of self storage as a business do not make owners in those markets immune from the laws of supply and demand.

Though I'm pessimistic on the short term impact of covid, I'm also still a long term bull on the fundamentals of multifamily.

Is the property in a market that has good fundamentals for growth?

But there are many issues at hand in CRE apart from the underlying fundamentals of real estate that come into play when making investment decisions like cost of capital (which varies by party), investor motivations (arbitrage, tax, etc) amongst other items. 

Obviously, there were clearly fundamental issues with the business model, which I think will be exposed in many companies if we are heading back into a major recession.Unfortunately, as has been brought up on this forum, the entire world is propped up on leverage. 

I am a strong believer in the city and fundamentals and will be buying in the market this year because the long-term growth of this city is undeniable.

Thomas, thanks for being the black sheep.From all the details you mentioned, it definitely seems that TC has the fundamental advantage.