Follow this link and scroll down to the bottom of the page and you'll see that, in spite of historically catastrophic financial events like the dot com bubble, 9-11 terror attack, and the housing bubble the S&P 500 has a 25-year annualized return of over 11%. 

The connectivity of the population is what is driving the disease, however the catastrophic estimates of hospitalizations and bed use assumes that we have a certain percentage of severe cases which is probably much higher in the model than in reality.

I've been reading so much about people arguing back and forth between gold, silver, USD, bitcoin, real property etc about what might be the better hedge or store of value in catastrophic economic conditions.

To take advantage of this the governor’s decree requires “… the tenant can demonstrate to the court, through documentation or other objectively verifiable means, that the tenant suffered a substantial loss of income resulting from COVID-19 or the related proclamation of a state of emergency and catastrophic health emergency, including, without limitation, due to job loss, reduction in compensated hours of work, closure of place of employment, or the need to miss work to care for a home bound school-age child.”

https://www.nydailynews.com/coronavirus/ny-coronavirus-senator-gianaris-calls-for-rent-suspension-new-yorkers-20200319-unw3kcrtbnhvbnvkvymskhjdv4-story.htmlI'm not sure what to say other than a 25% decrease in annual revenue (and three months without any) would be catastrophic for almost everyone I know in the business. 

Two months is no big deal, twelve months could be catastrophic.

I view my insurance as being for catastrophic loss.

This isn't great, but is far from a catastrophe. 

@Heather Frusco  you know  maybe this wont be the catastrophic issue landlords are worried aboutI suspect everyone got March rent ? 

This isn't deferring rent payment; it is waiving it.Those landlords who have mortgages may not be affected by this if their lenders also waive/delay mortgage payments, but those of us whose only income is from a couple of properties that have no mortgages, it will be catastrophic.