Particularly in trying to get a suitable answer to your question, it should be considered:

1.- One of the most recent references in relation to the fall of the real estate market, when you say:

In 2008, there was a fall in the market, after which there was a recovery in 2009, but the real estate market began to fall in 2009 and recovered in 2012.

Certainly after the mentioned crises the recovery of the real estate market was hard achieving "some" balance gradually.

2.- In a totally atypical scenario with an unusual protagonist such as a pandemic, the consequences of the fall of the real estate market are obvious:

In March and April, many people have lost their jobs and this means difficulties to pay the rents. If this recession continues for 6 months to 1 year, then rest assured that if you evict your current tenants, you may not get another tenant for a very long period of time.

In the face of such uncertainty, what actions should property owners, tenants and real estate agents take in order to move forward?

3.- Last but not least, one aspect that you consider to be particularly important is the loss of jobs and purchasing power:

...many people will have to give up their dream homes, after which there will be no one to buy because everyone is watching their finances and trying to grow their status again.

Presenting this scenario, the possibilities of a rise in the price of real estate could go against any previous prediction or reference of similar situations, due to the social contour and the affectation to society at a global level.

Thank you for this interesting publication, congratulations