The most depressing is the amount of garbage piled up due to budget constraints.

Second is experience, people who have never invested through a recession/depression have absolutely no idea that their investment could be totally wiped out - or worse if they have personal liability.  

Rather, the bill will cause unintended consequences for the market by reducing the number of homes available for sale – further depressing California’s ownership housing supply.In a time of record surplus, the state should not punish property owners simply for deciding to move due to unforeseen life events.

I don't know about Warren Buffet's advice, but he doesn't talk about turning everything into gold.I don't look at recession charts, all I know is that IRR can be 100%, and there could be a depression.

But that's really beside the point - unless you live in some severely depressed area, most everywhere is a ton of decent, bill-paying people desperate for rental housing, and there's no reason you have to rent to anyone with such horrid credit. 

Kind of like for me my grandparents living through the great depression borrowing money and paying interest was against their religion.

Depressing stuff, but our corner of the Central Valley is looking like it more and more every day.  :(  I've just gotta figure out a way to get my kids to move to the same state so that I can leave the valley before it looks like this!

Since 2007 and 008 when the government let off the hook the shysters who reminded us what the great depression look like and who allowed tens of thousands of houses to be transferred to "new owners", you know the same guys switched their suits and popped up with hedge funds and became venture capitalists.

When money isn't changing hands, it doesn't matter that prices are stable, it means the economy is entering into a recession/depression/unknown.

Boy, was that depressing.