It produces jobs/economic activity that are recession proof, and are the FIRST things to be paid.With this great backing of the Feds, Texas can provide a low-cost, low-tax State level environment. 

My W2 job will get me through a recession, but I’m not 100% confident in RE after living through 2008.  

How stable is your job/income Any risks of layoffs in a downturn At some point the economy will experience another recession I don’t think it’s too crazy to think it could be within 5 years .As other posters mentioned long term SF property should remain in demand and desirable just like property in L.A or NYC which are other cities with a lack of available land and many things that attract people from across the country and globe .But there are always risks and past performance isn’t a guarantee of future results .

There have been recessions and bear markets.Yes, I would agree that the arrival of a flu pandemic on our shores was likely not the method by which the casual observer or even seasoned economists would have guessed as the trigger for our current economic situation.

I worked in Las Vegas for McCarthy managing commercial construction projects for about a year before I was laid off due to the recession.

Commercial Mortgage Defaults May Rise to 17-Year High June 9 (Bloomberg) -- The default rate on commercial mortgages held by U.S. banks may rise to the highest in 17 years in the fourth quarter as debt for refinancing remains scarce and the recession drags down rents.

The problem is every recession half of discount brokerages go bankrupt. 

Properties can make it through a recession if the rent covers the payment .... if they can't, you'll be adding to the rental from your day job and you won't like how that feels.There is a reason banks want at least 30% down on investment properties.  40-50% is really better.  

., 2 FANS, 2 PORCH, 5 RECESS IN KITCHEN.

There are some syndicators that even in the Great Recession did not loose their LPs’ money (they did not provide decent return, but at least did not lose money).