>Deflating prices on existing housing means either the lender (ha!) or the homeowner takes the loss.
Okay.
(Expand or they're going to flag you for snark.)
The cohort that is currently at prime home-buying age (and, really, most people under the age of 50) have had the wealth that was generated by their labor and productivity systematically siphoned to mostly-older higher-earners, in order to shore up unsustainable compensation and retirement funding for the professional managerial/executive class and Silent Gen, Baby Boomer, and Gen X workers. The value of the overbuilt, low-density, transit-access/amenity-access-poor housing that they've built or speculated on plummeting would be not only economically healthy (as it would act as a stimulus for non-asset-speculation activity and finally incentivize density and transit access, while disincentivizing the socioeconomic/racial exclusion that characterizes most American suburbs and which drives so many of our objectively terrible NIMBY-focused municipal planning decisions), but also just deserts.
Okay.
(Expand or they're going to flag you for snark.)
The cohort that is currently at prime home-buying age (and, really, most people under the age of 50) have had the wealth that was generated by their labor and productivity systematically siphoned to mostly-older higher-earners, in order to shore up unsustainable compensation and retirement funding for the professional managerial/executive class and Silent Gen, Baby Boomer, and Gen X workers. The value of the overbuilt, low-density, transit-access/amenity-access-poor housing that they've built or speculated on plummeting would be not only economically healthy (as it would act as a stimulus for non-asset-speculation activity and finally incentivize density and transit access, while disincentivizing the socioeconomic/racial exclusion that characterizes most American suburbs and which drives so many of our objectively terrible NIMBY-focused municipal planning decisions), but also just deserts.