They lose net worth, not actual cash-in-the-bank money.
I’m a homeowner; I know that the value of my house mostly only matters if I plan to sell it and for determining how much I have to pay in property taxes and homeowner’s insurance. I support housing prices dropping because everyone should be able to own their home, if they want to.
The problem is that our economy treats homes as investments rather than as homes.
If home prices go down it means current owners lose money
Those current owners do a good job of voting and contributing to political spending
It’s hard to see anyone making a real positive change here
They lose net worth, not actual cash-in-the-bank money.
I’m a homeowner; I know that the value of my house mostly only matters if I plan to sell it and for determining how much I have to pay in property taxes and homeowner’s insurance. I support housing prices dropping because everyone should be able to own their home, if they want to.
The problem is that our economy treats homes as investments rather than as homes.