Well, of course. We all know that the houses we live in are worthless, that land is free, that the current infrastructure of the country has no value whatsoever — so of course everything everybody owns is actually worthless.
On the other hand, I don’t I’ll mourn the death of the broker-dealers who did little more than interject themselves in the middle of the process and siphon off quick bucks while leaving others holding the bag.
What percentage of homes are owned outright? Where will the taxes come from for the towns and municipalities come from to pay the future obligations?
It's easy to call the equity in a home wealth - it's another thing to feed your family with it.