4plex,
I am not second guessing what you did but I do think about this topic fequently and I would like to share my point of view. I think the chance that the worst recession in our life times is knocking a the door is good. Will rental income become challenge? It seems that rentals will always carry some relative weight in the economy. I like them if they are not extremely leveraged and especially if they can be covered by other assets. But, I have a low tolerance for risk. If the rental or rental portfolio was leveraged I would dump it.In the case of a depression If one was in good shape with debt ..depending on their other resources and abilty to gain income,which could become pretty sketchy of course, the rentals might be their best source of obtaining necessities and helping friends and family out or both? As far as the migration issue goes maybe California has tidal efect on both the west and the east cost? Tide goes out tide goes in. People want to be back here and people have always wanted to come here for the first time.I think that will give our economy some support.Hopefully businesses will obey the tide theory to some degree.I hope policy makers are bright enough to try to facilitate it too. Maybe you or someone else has ideas? An aside… I have a friend who is way up there in years . He said his dad bought hotels on the California coast during the depression, after it had hit hard of course,He rented them out to nearly busted single men and made a killing. Some people make money at whatever they do he says!
