An individual investor would need to have that balance to not lose value, sure. But a society as a whole, is the $500B "destroyed"? Or is there a transfer from

An individual investor would need to have that balance to not lose value, sure. But a society as a whole, is the $500B "destroyed"? Or is there a transfer from the property owners to the businesses that no longer rent the space? The NPV of those decreased rent costs may just happen to be about $500 billion, right? Not to mention the value gained by all the no-longer-commuting workers.