., 1031 is the vehicle  experienced investors use whenever they are changing sectors and/or locations. 

Imagine if everyone is affected by scammy crypto investment.The way the financial guy taking ride of customer business is like bunch of lousy cowboys, while guys like us hate crypto so much, we can still feel the contagion all of these stupidity moving and affecting other sector as well.

The highest was hotel and second is office.In office sector, the biggest valuation drops are located in SF and NY City.And to be more specific, it does affect office that was built prior to 2015.I am bullish residential because supply has reached new standard deviation low, it may not spike big but with the wage increase, lot of buyers are still there with very limited supply especially in appreciating market.

Some sectors took the opportunity to go AI or virtual instead of in person again affecting service workers.

We may only be at the beginning of difficult times. unemployment data in all sector is showing that the job market is too strong and unemployment is reduced.please do note that these "so called recession" is not a natural recession, but a "technical recession" created by gov. policy , the real economy itself is just fine , prior to 2020 Fed is already doing QT but then due to covid they printed money too much (not accidentally), now they have burnt the money , but they already announce they would print the money again next year.

The one issue with this current market condition is that banks are becoming more and more strict with WHO they are lending money too and are looking more at experience in that particular sector, in this case real estate, than actual income.  

I think how all those things effect RE will also depend on the sector.

I knew I wanted to be in the renting sector of real estate because of the passive income potential.

With vacancy rates high and the uncertainty in that market, many lenders and investors are hesitant to invest in that sector.

I'm a weirdo in that I skewed heavily into the real estate sector to hedge against inflation.