Wrong. It is the best time to leverage and look for deals!!!!

Cash (does not matter how you get via equity or whatever way) is going to be the king in a down and hard-to-get credit market. There will be some good RE deals coming out in the near future. For example, if an elderly people wants to retire and puts his or her holdings for sale, he or she will be more than willing to do a cash deal at this time. I just bought a c property from a 70+ old lady for 320k with a net income of more than 30k per yr. She asked for 350k and I offered 300k and get it done for 320k cash from equity of my other property.So, keep your eyes open for those who has credit to leverage.