Of course the analysis discussed is possible, and taking a contrarian position is always a good way to sell a newsletter, but, imo, those who do best in real estate, as with some other investments, start at a young age, buy in a down cycle and hold. That’s what we’ve always done, and it’s worked out well.
Purchasing real estate in the current environment could be dicey, but if you can afford the risk, and really want/need to own property, you will weigh all factors and decide if you can live with your decision regardless of which way the economy swings.