Those markets are going to see minimal impact from a recession as the people in that bracket are less impacted. 

I always wonder how Jackson being so close impacts that area, aslo. 

It's really the secondary market place, not the FED directly, that creates rates.Rates and economic factors have a short term impact on home prices and market sentiment - long term it comes down to supply and demand. 

We had a bump on the road as we took out permits to close out the garage and added 6 new impact windows, which all in all took about a 1 year and a half and costs more than we initially thought.

In the middle are Class B and C assets.If we invest in Class B and C multifamily assets is because they provide the most potential value for investors, as well as the greatest potential impact for communities.

So I'm eyeing the A++ locations in my market that I know will appreciate in value significantly over a long horizon.And in commercial, I think that's where the rising interest rates will have the biggest impact.

And let’s not forget the other variables that can still greatly impact the stock market, like the media or political turmoil.

They'll impact the basis of this property and subsequent basis of the new property. 

Can you imagine the massive impact on the housing market that would occur in the (unlikely impossible) scenario where this got enacted?

It's the state rule, not the judicial versus non judicial foreclosure type that determines if there is any deficiency allowed.Where it impacts the buyer is if there is any right of redemption.