Cancelling debts will only make asset prices skyrocket. Why worry about paying $400k, $600k, or $1 million for a house, if you anticipate that a few years from

Cancelling debts will only make asset prices skyrocket. Why worry about paying $400k, $600k, or $1 million for a house, if you anticipate that a few years from now the govt will wipe away all your debt?