I would just add be careful what you ask for. If we do get a 50% drop, we will be in the middle of the biggest depression in history. Many people with normal jobs will lose them. There is 20 Trillion (that’s right) worth of dollars in US real estate. If half of that were to go away, it would be equivalent to the stock market going to zero. Total value there is less than 10 Trillion.
The Feds would have to bail things out way before things got that out of hand.
So the moral of the story is, be careful what you ask for, you may get it. BTW, I just finished the book Sell Now. Even as someone who thinks prices are coming in some, I find this book a tad “out there.” He makes alot of assertions that are not factually based.
As many have said, all we have is our opinions, and nobody knows better than anyone else what lies ahead. I would just urge people not to plan for extremes. Just as in the bell curve models, 99% of all activity occurs in the middle.
I do think we have an ugly period at hand, but I seriously doubt we will get a 50% drop.