But unless we see a government bail-out for the unemployed (20-30 Million) we are going to see a bevy of foreclosures, which is going to drive the market down on its own - irrespective of people trying to get out before they go underwater, which theoretically should drive prices down even further. 

I've been living in Ireland for almost 5 years and I have been doing some abroad investing in Poland (where I am from) and I'm planning on expanding more into investments in Ireland.Btw, since you are planning to rent for Airbnb, you should learn about the Irish Airbnb regulations:https://www.citizensinformation.ie/en/housing/owning_a_home/home_owners/renting_your_property_for_shortterm_lets.htmlYou need to register it with the government and get a permission to do it in the Rent Pressure Zones.

I live in a over-saturated city ... rent rates so high it has put the homeless rate at an all time high. ... before I can turn this in to a more philanthropy aspect.Hi Christian,If you're interested in housing people from a philanthropic aspect, It might be fulfilling to get involved with a local homeless help non-profit or government agency.I say this because the efforts of many are more powerful than the efforts of one.

Can't speak for other market, but I just have to wonder what's going to happen next year when government aids to homeowner and business owners run out, when forbearance is no longer acceptable by lender, etc...I know I know if everyone has a crystal ball we all would be millionaires.

My portfolio has performed well, even during the pandemic because most of my tenants have Section 8 housing vouchers (government assistance that pays a good portion of their rent right to me). 

Also, I am in Ontario, Canada; if I were to leave my full-time job to start real estate, since the income will be $0 for a while, will I qualify for any EI or government aid? 

If you want the federal government to back your loans (e.g. a traditional mortgage) you will need 25% down for a multi-family.Doesn't mean you can't work out a deal for seller financing or work with hard money lenders, of course.

In the months since the initial coronavirus lock down, the US government printed approximately $3 trillion dollars - that is more than was printed in the decade following the 2008 financial crisis.

Hence why its been so heavily government subsidized for so long- the economics dont work without subsidies.

The huge government and university job base has limited any drop in its history to 2.9%.