We’ve been consolidating for 3-4 months without a blow-off top during this bull. I think this level is a fair place to take a loan as long as you’re generating cash to (1) with no risk cover interest payments and (2) start paying down the loan. That’s more increasing capacity / reinvesting in a cash flowing asset.

If you’re looking to build something from scratch or acquire a business/asset, then I’d wait for near the bottom of the bear.