My personal hedge is strictly Bitcoin. I accept it completely if it ends up doing the opposite of what I expect it to do during difficult economic times. Maybe that real estate can be added to that later on, but who knows.
Real estate is tied so closely with economic health though. With housing prices endlessly rising over the same period that wages are stagnating and growth is topping out, we have to expect a crash to heavily affect real estate, just like 2008. In fact, I think stocks and real estate will suffer the most.
When everyone is losing money (through investments, loss of business, layoffs) the last place people invest money is illiquid assets like houses and multi-unit complexes in an overinflated market that's finally tipping over.