This property is a 2,500 square foot, up-down duplex. 97 years old but freshly renovated and in beautiful condition.

We get to what the average is by having half of properties perform better than the average, and half performing worse than the average.   

My long winded question is how does land traditionally perform in down markets and who are the people looking to purchase land in down times?

It's honorable of you as well to reach out to others and seek what they are doing, what's working and what's not through this beautiful forum.

These homes are beautifully done, marketing to the highest rents in the area.

This means that even if you wanted to start a construction project you wouldn't be able to because you are unable go through intake for review or pull permits nor can you schedule an inspector to come perform an inspection as everyone is Sheltering in Place. 

Stocks are amazing tax wise and have performed neck to neck with real estate (excluding taxes) in many countries due to the nature of business but they tend to have low cash flow and the volatility can lead to one needing cash right when the market is down.

Here is the language that I was given by my agent to use in the contract:Notwithstanding any other provisions of this Agreement, the parties agree and acknowledge that in the event either the Buyer, Buyer’s lender, Seller, any of their respective service providers, government agency or any other agency becomes the subject of a voluntary or mandatory COVID-19 virus quarantine or closure prior to or at the time of Closing, or if Buyer or Seller is the party to another transaction that is delayed as a result of a voluntary or mandatory COVID-19 virus quarantine, that results in the parties inability to perform on the Closing Date, the closing may be automatically extended by either party for a period of up to ten (10) business days after such quarantine or closure order is lifted, up to a maximum delay of thirty (30) days unless the parties otherwise mutually agree to extend the performance date further.

I believe sellers may be able to sue for specific performance in NJ.

I am just saying targeted funds will perform better through this than whole market.