We're all just renting space in this lifetime. It's best to make it simple...like these soldiers living in their container homes.
I lived through a major bubble burst in New England in the 80's when home values dropped by as much as 50+ percent. I was actually pretty lucky, I bought my house in December of 1984 and closed on it in february of 1985. by the time we had closed on it the value had already gone up $50 thousand dollars. When we sold it 14 years later it went for that same $50k profit we made in the first 2 months. Some of my coworkers who bought in 1985-86 saw their home values plummet. One buddy paid $135k for a condo and finally declared bankruptcy when it was assessed at $50k. Another paid $280k for a condo and the price dropped to about $170 for the rest of the units but he and his wife rode it out. Cape Cod took a massive hit. But there was a silver lining in the cloud. For each family that lost big time there was another family, one that had been saving up because they were priced out of the market, that now had a home they could afford. So the trillions won't dissapear they will be moved around because unlike stocks which can only be used for toilet paper when they become worthless people can still live in houses, business can still move into office space. It happens and frankly I'm in a position to buy and wouldn't mind cashing in on someone elses misery.