In light of these down markets, let’s say this virus launches us into a recession. A recession not caused by overblown real estate values. What do private equity/debt funds do in an environment like this? How does the strategy change? Is it a just wait it out and see? This doesn’t seem like a situation where there’s be boatloads of NPL portfolios hitting the market, maybe not as many distressed properties to buy up, but I guess I could be wrong there. What’s the play? Maybe someone who was in repe during the dotcom bubble could enlighten us on RE plays through that crash. Click to read more and comment at www.wallstreetoasis.com.