Comment by Ekaros
6 months ago
Everyone but current holders of property and loans. Lower property values are good thing. As that means lower rents, meaning lower overheads. Leading to cheaper goods and services for everyone. Overall property values closer to reality is good for everyone including current owners.
But supermajority of the US (and almost majority of the world, I guess?) are property owners in their respective countries. So, by that logic, most people wouldn't want that, no?
By the way, I am very supportive of lower property values. I've just mostly given up on this issue, since from my conversations with random people all around the world, most people don't really want that to happen. Like, they want the property values to go down, but they don't want THEIR property to go down.