

The problem with falling house prices is for the people who recently purchased. Imagine buying a home for $500k and 1 year later you still owe $475k on it and it’s only worth $450k.
Eventually people say fuck it, and declare bankruptcy to get over an upside down mortgage.
If enough people do that then the banks fail. If enough banks fail then there’s cascading effects across the economy which can lead to mass layoffs, failing businesses, and other crises.
If collapse is what you want then yeah let then fall. But there’s a lot more pain in collapse than you realize.
On a walk through the woods near my house nearly every large tree has names or initials carved into it. I even found a swastika on one.
Disgusting and depressing. Humans can be so disgusting sometimes.
I think we all make impulsive poor choices sometimes. It really sucks, though, when that impulsive poor choice is permanent and publicly visible.