Recessions are Times of Great Opportunity
Recessions are times of great opportunity. During boom times, quality opportunites must compete with really mediocre ones for capital. These bad ideas get wiped out by recessions. During recessions, investors get back to basics, looking for businesses with real cash flow, real clients and real customers. There is no such thing as creating good or great businesses in six months. Terry Matthews has said that it takes at least seven years to create a great business and it certainly can take a lifetime.
In real estate, you buy low and sell high. Simple to say, difficult to do. It's true in many other fields too. Why not wait for that tech company to be available at one times revenues rather than nine times? Why not buy land when everyone else is selling and then sell when everyone else is buying?