If we are headed for a recession I don't know how that will impact all the development that is planned for Lynn, but you could say that about anywhere. 98 Lynnway, Harbor98: 48-60 luxury condos planned. $30-$35 million project broke ground this fall.

For example during the Great Recession, real estate was on fire in Brazil while it was crashing in the US.  

Future projections are always set to be wrong if a recession happens, which is why you shouldn't count on inflation from the start. 

You're taking on debt and negative cash flow right at the beginning of a recession?

Although there will likely be some effect on the housing market, a retreat, recession, whatever you want to call it, the cause might be different, but the fundamentals of what you should (or should not do) are always the same.

I think the Smokies is pretty recession proof but would like to see if I can confirm this with first hand knowledge.

Do you anticipate a sharp drop, prolonged drop and recession, or minimal effect?

The dilemma I've encountered is the large cash position I currently have in the property, roughly $3mm (acquisition + renovation costs) paired with the looming recession.

Now that the pandemic is on the rise, I know a recession is definitely coming.

Something akin to the Great Recession.