The only reason it would be devastating is because of mortgages. People don't want to liquidate their homes, they just want somewhere to live, so shifting house

The only reason it would be devastating is because of mortgages. People don't want to liquidate their homes, they just want somewhere to live, so shifting house prices would be totally inconsequential for a homeowner. The market price of your house would be lower, but then so would the ones you want to buy. Makes no difference. This is because houses don't really lose or gain much value. The worst that can happen is the building falls apart. Houses aren't worth a number in a made up money system. Their worth is real, tangible: shelter, warmth, comfort etc. Why can't more people see the banks are the cause of this? They can print out money for houses at their leisure. It's not like it's a conspiracy or anything, there's tons of information out there about how 2008 happened including major Hollywood films. They do this openly. Of course it looks like house values are going up more than they should, you're measuring value in numbers that can just be made larger by the banking sector.