I had C class units in a B class area and they held up fine...rents actually went up some during the recession.  

Even during the '07 recession (but I never owned anything in Detroit!)

there have been some recent layoff's at big companies, maybe early sign of recession.  

Everyone always says top markets like NYC  withstand recessions and financial shocks but people who bought in 06' - 08' took a bath just like everyone else in the aftermath (sure it wasn't 50% but 20% is a big hit if its your primary asset)P.S. - Buy in the neighborhood you want to live in! 

I bought my first home during the peak of the great recession and am now interested in making moves in the real estate in WA but in TX as well for SFH (3/2, 1,100 – 1,500 Sq ft)I joined BiggerPockets as a way to interact with like-minded individuals interested in the industry and hope to learn from many of you in the coming months. 

You will probably have to wait for a right of recession before receiving the cash, but that is only a 3 <business> day period.

I know of many "Millionaires" (on paper) that lost it all in the last recession because they had TOOOOO MUCH DEBT on their properties. 

:) Super Jumbo is generally up to $5m & still largely algorithmic like you are used to, larger than that it's generally done on a one-off basis.Worth noting is that technically the lender still must follow the post-recession "Ability To Repay" rule, meaning the lender can't just go "oh, 40% down, we can't lose even if we have to foreclose, loan approved!"....

Now it's highHouses close to the Lake county are rented higher than $1K, also depends on finishes - sometimes 3-4bed/1.5-2bath rented for $1300-1400/mo.It's close to I-90 which is good for everyone who works in downtown, Cleveland Clinic etcPOS is not so bad, at least for the city - it's getting back to life after recession.

Important to keep in mind companies can and often do cut dividends during a recession .