For those who don't own, yes. For those who do own, and who banked on the value of their property for things like retirement, etc... or who will go underwater

For those who don't own, yes. For those who do own, and who banked on the value of their property for things like retirement, etc... or who will go underwater and into financial crisis... it's bad. There is always a two sided balance that has ripple effects in both directions.