Rents actually increased strongly in most markets during the great recession and housing collapse.

The only improvement I would consider add-on is recessed lights...

With that being said I will still keep investing in germantown due to its organic growth, which will be affected less if a recession hits. 

What a coming recession might look like, how long, how bad, etc...that’s for another discussion.

My partner and I own several MH/RV parks in the state of Arizona and are focused on the creation of recession resistant cash flow for our investment fund. 

Happy 10th Anniversary of 2008 great recession :)CRISIS AND CONSEQUENCESThe Epicenter of the Housing Bust Is Booming Again.

I was surprised to learn that even in the depths of the worst oil recession Calgary has seen in decades, 12k+ people still moved in.

From the variety of answers, it's clear that it is personally subjective (as it should be) based on personal income, current cash flow from your portfolio and the historical track record of the region (the Great Recession provides us an excellent model). 

I've heard similar fears and predictions for over 15 years...including the global recession almost 10 years ago, yet all the while living here, I've experienced quite the opposite.   

@Tim Gordon love that last sentenceI hadn’t heard during the last recession.