ONE, I can find ONE event and one only over my entire lifetime that actually did smack the R.E. market down and that took the largest financial event in world history since the Great Depression to do it. 

A review of his report showed multiple restraining orders and disorderly conduct violations filed against him. 

If rates shoot up quickly, short term RE values will most likely get depressed.  

I'm of the mindset of just pausing for a bit.. some random thoughts:cv could be a blip or start to longer great depression. $15 minimum wage comingstate of IL would really like hyper inflation (can't afford state pensions). 

Someone else can correct me If I'm speaking out of turn, but I strongly believe at the leverage + deal size you're discussing, Fannie/Freddie will only offer you at best 25 or 30 year amortization payments, rather than interest only payments, which is going to further depress your cash flow. 

The same thing happened to people coming out of the Great Depression who hoarded cash their whole lives believing the next Great Depression was just beyond the horizon.

The global pandemic shattered the world order and the US economy suffered its biggest blow since the Great Depression in the second quarter.

I'm sure you'd agree that the american economy most likely would've gone into a depression without fed dropping interest rates in 2009 and massively expanding their balance sheet.

There is a depressed neighborhood in my back yard (Newark, NJ) that has tons of homes with potential but are dilapidated.

Obviously given my experience i'm biased, but another aspect I don't like about NYC is the ROI is often very depressed. 4-5% is a good return for your average turn key investment locally, wherein most other places in the US will exceed a minimum of 8%.