VNQ Monthly Chart

Back then:
VNQ falls below 20 SMA in Jul 2007
Double attempt to rebound (red arrows) but failed
after struggling 15 months, a sell off begin in Oct 2008

Now:
VNQ falls below 20 SMA in Jun 2022
Double attempt to rebound (red arrows) but failed
RSI remained in low levels below 50 (more bearish than bullish)

Might not seen the worst yet, unless RSI reverse back above 50