Taking advantage of a bad thing is only bad if you exploit something for it.
Now, many experts are saying that real estate will suffer big time this year in the country, which would be the perfect opportunity for those who have money to invest. Even commercial real estate would be affected, which would again be a good opportunity to be grabbed by those who couldn't invest on it before.
However, dipping into savings and applying for financing loans should only come second. One must still do his research first so any investment made will not be for naught. Go for areas where some development have already started (like that area at the Fort that is slowly cropping up near the city slums) or where roads have at least been built. When the economy recovers, these areas should pick up as well.
It also wouldn't hurt to attend a seminar or two to learn more about your options and investment opportunities.