Don't think so, actually value of the millions of homes could be well below the base year value of 1996 or 1998. Most all appreciation from that point on was bogus. If the time and value of money during that period of time means anything.
I am not sure I agree with you assumption that home values are well below the 1996 or 1998 base year. Do you have FACTS to support that??
But let’s just say that you are right. These assets are already being priced as $.35 on the dollar. So, a house bought for $100,000 is now valued $35,000. Are you saying that it is worth less than that? If so, what would the 1996/1998 price be??