Will demand for multifamily wane as housing prices see a precipitous decline?

During the GR there were many locations that experienced no decline of rents or significant change to the vacancy level, but there were other locations that suffered huge rent declines/vacancies.  

Just negotiating to sell will cost you something at times.I've been through several declines of magnitude, California in the 90s.  

What if you compare the ROE of two investment properties and the rate at which the ROE declines is roughly double for Property 1 than for Property 2, wouldn't you invest in Property 1 since the growth in equity is higher? 

Would you still honor the price or decline and raise your rate?

Haven’t experienced any decline in occupancy in the Acadia region at my two properties.

I've been reading "The changing world order" by Ray Dalio, and listening to some podcasts related to the subject of the declining US empire, and I'll admit it has me wondering if everything we hold true about long-term investing may be in for a shakeup in the near futureWhat I'm trying to decide is, should I sell a rental duplex (I have 2) and pay off my primary as a defensive measure?

I'm looking also at qualitative factors: neighborhood quality, tenant quality, strength of local economy (diverse industries), growing or declining populations, appreciation rate, rent growth rate, etc. 

The ~$13m exemption that you're talking about is combined between gifts during life and value of estate at death, and it is scheduled to drastically decline currently in 2026. 

Unlike 2008, the national market decline, today's market varies from city to city.