However, the same was said after the 2008 collapse and yet that opportunity was mostly squandered as we are in no better shape now than we were then. 

Nice try though.... :-) Nope, the roots of the 2008 housing collapse are widely blamed on the loosening of collateral requirements for the Big 5. 

But as a whole, recession does not automatically equate to collapse in the real estate market as many posts I've seen lately seem to assume. 

My rental house in Tacoma is an old house and part of ceiling collapsed.

A lot of homes are still owned by them, values haven't collapsed, it's still a great place to *live* but no longer an attractive geography to rent.

Historical PricesSource: https://www.financialsamurai.com/are-you-a-real-mi...We had the dot-com bubble in the late 90's, followed by the housing crisis (collapse) of 2008, and in my opinion the dollar is the next bubble, see Forbes article below:https://www.forbes.com/sites/kenrapoza/2015/01/26/...The reason that I do not touch equity to purchase additional property is that I have already used leverage in the first place, and pulling on equity to get 2x leverage would essentially put me farther back from my ultimate goal of paying off the mortgages entirely to realize the full rents as passive income within 15-20 years.  

It's possible you mis-interpreted what your agent meant when they said you could renegotiate after inspection (usually that means for major issues like dangerous electrical panels, structural issues, partially collapsed cast iron sewer line, etc. that weren't obvious at the initial showings, not superficial things like "the AC is rusty" or "we should replace those ugly fans").

Fixed the collapsed subflooring in the bathrooms both sides. 2.

I feel we are one Natural disaster, or Terrorist attack away from the next collapse.

I have always been interested in real estate, but graduated college in the middle of the collapse of the housing market.