High prices are good news because home building is profitable, you get increased supply and that buffers price shocks. If prices start falling it will put home

High prices are good news because home building is profitable, you get increased supply and that buffers price shocks. If prices start falling it will put home builders out of business (The same as 2008), and we’ll have another decade of housing shortages. Sure there will be some people who benefit, people with means who can use cash to go scoop up cheap real estate as an investment. The average person is going to be screwed and the bank will not give them a 9% interest loan during a recession. On a more abstract note, deflation is terrible for an economy. In a healthy economy you want people to be building things. It creates jobs, lifts people out of poverty, and so on. Deflation causes people to hoard cash and stop working and investing.