A place to live is pretty valuable though.
Discussion
Cost has warped our perspective on how high the value is. Mortgages are testing the limits of what people will pay.
After a few days in a desert with nothing, a litre of water is worth more than all of Manhattan. But water is abundant in most places, housing is artificially high because it's become *the* low risk way to save and get ahead in the 21st century.
Forgetting bitcoin of course.
Yeah, look as an investment I would say property is overrated. I'm saying that the main value in a house is in its ability to give one shelter. That doesn't change with the economy.
On the financial side I think it's probably not too late to short housing, if I had a suite of rental properties that's what I would have done a couple of years ago.
I believe there is a depopulation agenda, and it needed go very far to tip the scales against property rising. It may even be the case that in a couple of years houses will be free to anybody willing to go inside and pull out the bodies. I don't know.
Where I come from there is death tax still, which kind of forces one to view one's house as a thing of $ value, like it or not, so as to do one's best not to limit the damage when the government comes to steal it.