Stated income, no document loans, 580 credit scores, no income or employment or asset verification, etc. were collectively the primary factor behind the great recession - which ruined the lives of tens of millions of people, including my own.I should say though that FHA loans are nowhere near as popular as they used to be, most likely thanks to their excessive insurance premiums.

And the typical recession move is overweight consumer staples and utilities (people always heat homes and buy shampoo, toilet paper and food).

Update: Everyone's afraid of the recession so no one bit at $400,000.

Do you anticipate any changes heading into more of a recession?

I get that they haven't gone through a recession, but if they invested right after it all crashed, then those lessons should be very alive in them.

I failed hard on a bunch of deals during the recession.

Cash-out refinances are also challenging, assets in markets that are or will get hit harder by this recession.

We’ve got a property purchased in the SF Bay Area during the Great Recession for ~$275k.

With all of the uncertainty about the economy recently (specifically the last couple of weeks), it got me thinking of how a market downturn/recession would affect a cash out refinance on a property like this. 

I had planned on adding recessed lighting but just realized the ceiling is made of plaster (was built in 1940).Is it difficult/costly to add spot lights to plaster ceiling (walls are also plaster)?