We do say $200 of value was destroyed when your stock portfolio goes down $200, though. If you think about it, it is the same thing… that real estate value is o

We do say $200 of value was destroyed when your stock portfolio goes down $200, though. If you think about it, it is the same thing… that real estate value is owned by some business that has shareholders (either public or private)… the $500 billion in value that was destroyed came from the shareholders of the real estate companies. It is the same thing.