This is an important first step as all real estate investing will flow from your ability to manage your own assets and your own psychology.

You have to buy on fundamentals and not factor in much appreciation if any save for what might trend with inflation.The big question is if you buy something now and its on par with what you are paying in rent then thats a push and you have all the benefits of owning your own place, both psychologically and economically, if you are buying for speculation of it going up in value I would discount that.

Where will the psychology be a month from now?

I am sure his decision was pure psychological, unless he really was planning to sell stock to fund the deal.

I also don't think we have ever experienced the the whole EU shutting down in our memory which is a bigger psychological hit. 

The mass psychology of humanity forces us to act in similar patterns this has been noted throughout history (dating back to the Romans). 

Bigger drop at end of year.Great Recession was the same...tech crash too.I'm on my phone so can't pull up the charts, but it's the natural psychology behind the market.After this stimulus passes,  likely a jump will happen and you'll feel you missed the bottom.

Will certainly be a psychological shift when the checks stop but you cash flow is solid.  

:@Jay HinrichsOne aspect that will be interesting to watch long-term will be the psychological impact of how people think about their discretionary income.

Even things I thought were pointless, like psychology and statistics have helped me.