Lending standards are getting loose again.......Who knows maybe it'll lead us to another crash......This time I'll be ready to buy literally everything in sight.I don't know Jim  that's betting against your clients buying cash flow rentals... that are immune from a down turn .. although no property is immune from someone who is not ready to be a landlord.. you do a good job painting both sides of the picture frame..  

You get immune to certain issues after a while. 

@Charlie Fitzgerald  its just we have short memories.. and Appreciation tends to get targeted as anyone who would invest for appreciation is not wise..when in fact in 07 to 2010 NO model was immune from the wipe out.I look at OPUS  huge billion dollar commercial developer from Minnesota.. they build some of the premier commercial retail in PDX for 20 years.they got caught holding a ton of commercial in Phoenix and had to file BK.For me cash flow is nice but appreciation and forced appreciation is nicer and better payday.as for cash flow I like interest  and not dealing with tenants and PM's...

It's something to watch 3...6 months from now, no one is immune to this (excuse the pun).I don't expect everything to be business as usual even when the death rate slows, there will have to be cutbacks by corporations and professionals to compensate for the losses.

This idea comes with the knew "defund the police" and a lot of states moving to get rid of qualified immunity officers will be much less hands-on leading to more crime even in affluent communities.

Many homeowners are wondering how they will pay their mortgages, and others are wondering if we will experience a new real estate market crash, pointing to a wave of foreclosures.Unlike in the Great Recession, once the virus is contained and immunity begins to take over the population.

Drug lord just like a roaches that has already immunized from PM notices and Police.

My impression as well would be that free-and-clear properties make trial lawyers' mouths water, and that the presence of the debt will give some natural lawsuit immunity should you become a potential target, so that has some value in our litigious society.I would also take advantage of the low fixed rates and great buyers market, using your payoff cash to grow your little empire.

Granted, I'm not saying I'm immune to those problems, but I can offer this; if I faced these problems or recognized the potential for an area to "downgrade" as you wrote then I'd 1031 Exchange myself out that door and pivot into a better neighborhood or market or asset class. 

By the second or third kid the pacifier falls on the floor, you pop it back in her mouth and say, "Its good for her immune system!"