Almost immediately, all of them were rented out again; albeit, at massively discounted rates, but to a different demographic: people who HAVE to move or find a place for the medium term and not just people traveling for leisure.

On Friday, March 27, the President signed the massive $2 trillion coronavirus Stimulus Bill (the Coronavirus Aid, Relief and Economic Security [CARES] Act) to provide assistance to workplaces and employees.

Stick to your plan if you need $30k for an adequate down payment and reserves then stick with that, there isn't a massive buying opportunity in RE yet like there was in the stock market. 

Had I followed the DR plan to a tee, I wouldn't be anywhere close to where I am now with a massive potential for growth.

•Massive unemployment = selling and foreclosure (eventually, not initially)•Increased supply/declining demand = lower prices/buyers' market•Those with capital reserves will buy at significant discounts for cash•Savvy investors without capital will buy on great terms •Retail priced value add/flip properties will have to sell at smaller margins•The paper market and buy and hold investors will be on hold until the general public can afford to make payments•Capital might be sitting on the sideline for a whileWhat does your crystal ball say I'm missing here?

As Robert Kiyosaki says, massive transfers of wealth occur in economic crashes, so I'm trying to prepare so I will be on the winning side of that transfer!

The challenge is that we don't have enough data yet to really look at the numbers and make any meaningful predictions or summations of the effect so far.There will likely be an increase in supply for the coming months in the Phoenix market, as the Covid crisis will undoubtedly push some homeowners in foreclosure, force some AirBnb investors to sell off some properties, and kick the iBuyers out of the market for now and force sellers to sell via traditional means if needed.It may be reasonable to expect a short-term recession (and I mean super short term, as everyone is hoping this will be over in 60-90 days), but it's not reasonable to expect a massive depreciation of home values or another foreclosure crisis like in 2008.Home prices in the Phoenix market have risen consistently since 2013 (like most of the country), but not outside the affordability range of average home buyer with a median home price of $265k or so.If the majority of average buyers can weather the storm with government aid and such, then we should be ok and bounce back fairly quickly once the pandemic subsides. 

The article points out the fact that these super wealthy may have other income (like investment gains) to offset with the massive real estate losses. 

Apparently, advocates have moved past a request seeking deferred payments, or other options, to simply demanding that rent be waived altogether.My concern is that regardless of whatever is offered in an attempt to explain that LLs have obligations as well, emotions are going to feed this issue and automatic unchallenged waivers of rent will be demanded by tenants on a massive national scale.

(These bills are massive!)