> Total value of all US residential homes is $44T and google tells me mortgage back securities have an outstanding debt of $24T, so about 50% of what the underl

> Total value of all US residential homes is $44T and google tells me mortgage back securities have an outstanding debt of $24T, so about 50% of what the underlying asset is worth. Sorry for being pedantic, it's 45.45%, but the real issue is that 38% of people have paid off their mortgage. If you take 62% of $44T, you end up with $27.28T, and if you have an outstanding debt of $24T, that looks really fucking bad.