Commercial real estate is clearly in a precarious state due to covid, and a lot of unprecedented things are happening with leases not being honored by some blue chip corporations.

It doesn't look like there are any major laws in place against Airbnb (to an extent) in Kansas City, but they are continuing to evolve legislation around short-term rentals since it's somewhat unprecedented.

For if I had predicted at the beginning of 2008 we would experience freezing credit markets, bankruptcies and near bankruptcies of our largest of financial institutions, massive amounts of taxpayer monies used to "save" the financial system, the worst recession numbers since the Great Depression, unemployment at 7% and rising, mortgage defaults at unprecedented levels, "deleveraging" on a global basis -- and toss in oil going from $95 a barrel to $145 a barrel and back to $37 -- then you would have sought to admit me into a mental ward for treatment last January.

In these cases, the specific sector was over-inflated and collapsed as faulty - maybe even fraudulent financial vehicles and/or practices were introduced to suck even more money out of the sector as it heated up.Just because the dot com sector eventually swallowed reality and fixed its fundamentals on value products/services, the energy sector resolved in the courts, and the housing sector flushed out its overly speculative practices (many of which were really bank-driven, primarily as loans issued to folks who had no business buying housing - and toxic mortgage packages created with weird names and no vehicle history to attract investments thus made with no due diligence and no 3rd party oversight - which took unprecedented government intervention and bailout across many sectors to fix), doesn't mean that the next sector downturn trigger doesn't lurk out there.What some call creativity or innovation is really just greed masked in packages so new and weird that due diligence is nearly impossible.  

We've had an UNPRECEDENTED runup (bubble) in stock prices since 1996 and we could have an UNPRECEDENTED bust (much worse than the great depression).Just another cheery thought to consider.Mike

@Philip Klinck  real estate cycles its never the same..the melt down create unprecedented buying opportunities that many who were new to the industry took as normal... and now when markets correct and normalize they look at things as tough or too high priced etc.. when in fact this is what most investors who own property want to see..

With the market here in Texas getting to unprecedented levels, I put my RE investing on a temporary hold and looked at stocks.

We've all seen the unprecedented growth in the last few years. 

This is an unprecedented situation and with this being so we need to be more careful to avoid negligence as others have mentioned.

I believe with the recent real estate crash, we have experienced an unprecedented opportunity to "buy low" as the market bottomed, and maximize profits as the market began to turn.