.
Recession doesn’t imply rate is going down 
The worse kind of recession is stagflation. This is what Market is worried about. Recession with rate going down is boom time for RE. I believe the moment Fed announces a rate cut, property would make a 5-10% jump in prices. I don’t know when Fed would announce a rate cut, so I bought a SFH… not in Austin MSA, in Houston MSA recently. Actively looking around for another one.
Frankly, I believe US economy has already entered a recession… I think Fed fudges the methodology… as opposed to other nations, either fake the number or don’t bother to publish… different culture, different way to obscure the reality. Crows are black regardless where they are.