I didn’t say it wasn’t needed, I was pointing out that focusing only on housing prices was bad.
I do not think it is a good idea to have your house paid off – all your money is now in RE. If you believe this list, then you should have a low interest rate (mine is 5.125%) and have the cash in other investments to diversify. That is my position now. If you subscribe to the 50% decline, then you are about to lose 50% of your money.
