Just don't lose focus that this country enables us to make good living and good stocks and real estate tend to go up.
If all those houses go belly up as in 91-92 and go on fire sale, government is going to kick in big time to help banking system. More importantly all new homebuyers after the fall will enjoy equity levels increases that as if their pension plans have been overfunded.
Also homeowners with paid off mortgages will actually believe that value in real estate market have been achieved and will have confidence to buy 2nd home.
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