Banks are required to keep reserves, how do you value reserves in multiple currenies, especially if one is volatile?

It is generally viewed that comps are more volatile than cap rates, but both can swing. 

Although I am not particularly "low balling" anyone, I do factor in margins for the unknown during these volatile times.Personally I have been adding to my vacancy reserve (physical/economic vacancy growth) as well offering at a slightly decreased amount (1 percent above prevailing cap rate) due to the current state we are in (Covid, Eviction protections, Unemployment, etc.) 

@Elram Raguan Banks are being cautious because of the uncertainty of the general conditions - unemployment rate and stock volatility.

@Matthew PaulIt’s my understanding also that due to the volatility in lumber prices suppliers aren’t locking in the bid until seven days prior to delivery.

Withdrawals from a traditional IRA and 401K are considered ordinary income so the assumption must be you are living on MUCH less than you did while working.With real estate investing, not only is it possible to defer taxes, I can defer them forever, even well after I retire.What kind of returns do you get in your mutual funds and how volatile is it? 

I’m thinking about house hacking but I know the on market is volatile right now and is competitive among traditional buyers.

When you are referring to spec builds and market volatility, are you referring properties for sale or rentals?

The stock market has had wild fluctuations in recent years, so capital investment groups look for other commodities that are less volatile or can be controlled more easily.

Fees, volatility and lack of access to capital all helped make my decision.If you are looking for diversification, well real estate offers multiple markets, asset classes and strategies.