We are not in a RE crisis.  

This pandemic has only worsened these economic conditions and for this, I am grateful that I am also a property owner & manager that has been able to conscientiously take action to hopefully improve the situation for other families in need.

A lot of them are just not economical. 

-if doing short term buy and disposition, real estate values may decrease so it is potentially more risky in this economic climate but not impossible.

In addition to the above considerations, because of the timing and soft costs you need to be planning a project large enough to make the HUD process economical.

I don't think that's "economic vacancy" I think it's actual physical vacancy.

The owner cannot make the payments, or from an economic perspective, sees that it makes no sense to continue making the payments.

The real estate market is by definition much slower than the stock market, so the effects of the economic crisis take longer to get reflected on prices.I think in 12 to 18 months the real estate market will take a hit.

That's not a crisis, it's just demand.

At the end of the day in a worst case economic Armageddon scenario all assets can lose all value but with property you still have a tangible asset that is worth something and can produce value in terms of product, income or trade.