We are entering a recession, seems to be no doubt about that. There will be winners and losers in every industry, including aviation, but there is also a shortage of pilots, and it is getting worse.
It may be that the recession will be short lived but if I were starting over, I would still think that the "risk" it is worth taking because in the end the risk will be notable by it's abscence.
It's a big decision, just make sure it's what you WANT to do, and WANT it badly enough. No point wasting money if it isn't is it? And I do agree that you should do a Class 1 medical first.