While a correction or even a recession is within the realm of possibility, stating 20-50% losses across all asset classes for the next five years is a strong prediction with no underlying evidence or analysis.

My apologies.In my opinion, anything below MLK Blvd and above I-20 is gold and will be for maybe up to a year after the Super Bowl, after that, prices will surge to pre-recession prices.

During the recession I saw $100 deposits often. 

.), and market distress (recession fears, house on market a long time, etc.). 

Not that appreciation is non existent but it’s a stable recession proof long term rental market. 

For someone that's not as conservative, or a different view on the cycle, they might have a different opinion than me on all of this.2) Sponsor quality check: (takes about 45 minutes per deal)I believe that a great sponsor can take an average looking deal and make it great, and that in mediocre sponsor can take a fantastic looking deal and make it bad (especially if there is a severe recession).

To me, coming correction will more look like 1991 recession  - Las Vegas house prices were flat, then went up again.  

I'm ready for a nice long recession.

I don't have any recent experience in Anderson since it's too far from our office to manage properties up there, but I live in Fishers which is about 20 minutes from there.Anderson's population had been on a decline after the manufacturing jobs left during the recession.

I can't help but think that in the next recession/depression, prices are going to absolutely collapse.