There won't be a "doom loop", just a market correction to relatively normal levels. Free market at work - everyone speculating on real estate professionally knows the risk (or should have known after the 2008ff subprime crisis). Bailing out morons should not be a thing - if no one suffers this time, it's just an invitation for an even worse bubble. The problem is that instead of eating their loss like they fucking should, it seems like the uber rich are funding endless "return to office" campaigns in media, and once again try to let the 99% suffer from worse employment conditions and onerous commutes to the office instead.
The only people I actually feel sorry for are regular homeowners who bought way overpriced properties because they had no alternative.
The only people I actually feel sorry for are regular homeowners who bought way overpriced properties because they had no alternative.