> Owing debt with property as collateral will be financially ruining for most of the middle class. What's the mechanism you're thinking will cause this? Based

> Owing debt with property as collateral will be financially ruining for most of the middle class. What's the mechanism you're thinking will cause this? Based on what you've said, I can imagine you're thinking either a crash in property values that leaves people underwater on their debt or widespread property damage by people that have 'stopped respecting property law'. Regarding theft/violence/vandalism, it can happen just as easily to a home you rent as to a home you "own". Regarding property value declines, any decline that's financially ruinous is going to ruin _someone_, and the debate then becomes who's left holding the bag when it happens and how that negative impact propagates outward through the broader economy. (But I'd be interested to hear more of your point of view.)