It's great if you're a cash buyer. Of course it will be difficult to raise that cash if the economy dives and/or real wages(after inflation) keep sinking. But

It's great if you're a cash buyer. Of course it will be difficult to raise that cash if the economy dives and/or real wages(after inflation) keep sinking. But, if you have the cash, you may be rewarded with some good deals on housing. You're generally better off paying a higher rate and less for the actual property since you can always refinance down the line but you can't renegotiate what you paid for a property.