The people who came up with theories such as portfolio optimization, diversification, and market efficiency received their Nobel prizes for good reason.

But as both @John Underwood and @Jonathan R McLaughlin mentioned, it's nice to have some diversification and really as long as there is no damage and it just needs a deep clean then that's pretty lucky I'm thinking.

Now there's more diversification with mortgage, medical, hospital, etc industries.I house hack in metro Detroit which is not the city.

People and companies have adjusted their cash management strategies and moved cash in mass to ensure FDIC coverage, bank diversification, and flight to quality.

This house is more of an asset diversification – half of our money is in the stock market, so the other half has to go somewhere else: it’s either this or a bond ladder or a bunch of gold bullions buried in the backyard.

These deductions can help lower your overall tax bill and increase your cash flow.Diversification: Investing in Multi-Family properties can also provide diversification for your portfolio.

Doing 5 of these, which is probably the minimum for diversification and return on your time - unless it’s a hobby - will necessitate a $150,000 investment. 

I firmly believe that diversification, in the stock market (or similarly traded asset if not a stock, such as a REIT, fund, MLP), and diversification in my real estate assets is one of the ways you mitigate risk.

I would look into doing both for diversification. 

Diversification is key as well.