In 2009 Europe were not in crisis yet and Euro was Stronger ($1.48 per Euro).Despite the fact my US property did not match the 2% rule I consider it a good choice because in this time the Europe/Italy future is uncertain and It is good to have an asset in Foreign country.Furthermore it is good way to learn how to manage a business remotely.

This further exacerbates our inventory crisis.

People who are in a state of crisis tend to frequently be in a state of crisis.

I believe it was our transparency and desire to help them that encouraged them to continue paying during the crisis.

Given the chance of a new financial crisis is getting higher and higher, to me it makes a lot more sense to play defense until the market has calmed down. 

As it stands they've said no rate hikes for the next 3 years.If they start seeing signs of Great Recession 2.0 (namely falling housing prices) rates will have to go lower to avoid another financial system crisis.

Side question (not to get off topic) just curious how your portfolio has performed during the Covid19 crisis?

Just think about the divergence of opinion here on when the right time to invest is given the COVID 19 crisis — some say now, others say wait.

Sellers have enjoyed a wildly imbalanced market for the past couple of years, while buyers have been forced to offer well over asking price and waive all contingencies in order to have a competitive offer.The last time the real estate market was this hot was in 2007, just before the real estate bubble burst – triggering a foreclosure crisis and a global recession.

According to NMHC, the IRS has extended the deadlines out to July 15 (https://www.nmhc.org/news/nmhc-news/2020/irs-extends-1031-exchange-deadlines/), but there are still a lot of unknowns now during the depths of the crisis and as we begin to pull out over the coming months.