The construction took about a little over one year from 2007-2008 and our cost was around $140/sq ft.When it was completed, we tried listing the house for sale but the housing market was crashing back then so we ended up having to rent it out. 15 years later we still own it because we love the rental income ($3100/mo) and don't have any regrets about not selling it as we had originally planned. 

Potentially the greatest crash ever will happen soon, soon being relative of course.

Everyone is freaked out about what a RE crash like 2008 does if it were to happen on top of COVID.

Until we get an economic crash.

I've been following this forum, as well as the BP Podcast for quite some time and have been toying with the idae of doing real estate investing since well before the 08' crash. 

That said I must correct the very root cause why 85% of all business's crash and burn in a flaming heap of bankruptcy between year 2-5 and not 1.

Even if there is a crash, and people downsize, those people will have a need for self-storage, as evidenced by storage occupancy rates during past recessions.And during inflationary times, our rental rates increase.

This thread is like a crash course.  

People who bought prior to crashes and were bleeding money for years or lost the property may have a different perspective. 

And even if you look at the home values during the 2008 crash, when home values began recovering, they went from -20.9% in 2011, to -15.9% in 2012, to -4.1% in 2013, to +3.0% in 2014, +10.3% in 2015.