I would hope nobody's monthly budget is that unpredictable.

It's a no-lose bet for these guys.This is actually comical because many RE investors tout they invest in RE because the stock market is unpredictable and moves seemingly without rhyme or reason, but as soon as the media reports on a possible recession and cites a stock market selloff as the indicator, those same RE investors start questioning if we are in fact heading for a recession.If you want to get a better indication of where your local market is, have your agent provide you the previous 1, 3 and 5 year metrics on houses bought/sold, avg days on market, median price and ratio of ask to sale price to start.

I own 24 units in Kitsap county but have continued to look in Seattle, however have pulled back for the following reasons: 1) building age, almost everything you see on the market is 50+ years old and has significant deferred capex that owners decide they would rather push off to the next owner, 2) Seattle renter politics are too unpredictable - too great a chance of a rent control system being implemented, and 3) smaller unit size when compared to newer non city properties - while many apartment renters are essential workers, many are not and have been working at home since March, and consequently are looking for larger units (a trend I think will continue to some degree).  

Life is typically weird and unpredictable, but if you've got ambition and work ethic you'll be fine.