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What will happen to RE if COVID gets worse? (CA)

I have a owner-occupied duplex in a desirable area just outside of San Francisco (Marin County). The place has appreciated about 30% since I bought it in 2015.

I was happy living here for a while. Now I want to downsize/move to a cheaper COL area as I will be retiring in the next 5 years.

Before COVID I was confident the best approach was keep the property, move out, and rent both units. I would be about $2k cash flow positive if I rented the units pre-COVID and hopefully enjoy further appreciation over a 10-15yr period.

Now with COVID people are leaving SF in droves as many jobs have dried up. My tenants have started feeling me out about a possible rent decrease.

Every day I read more bad news about COVID. Yet, it seems that RE is still strong in my area and houses are selling.

I'm not an optimist. Thus, I'm starting to wonder if I should sell my place now while prices are still relatively strong rather than seeing what happens in 1, 2 years or longer.

Is anyone else having similar thoughts? Or am I over-reacting?

submitted by /u/Bootie_Mash
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/hhp109/what_will_happen_to_re_if_covid_gets_worse_ca/
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