“Sellers are forced to take unexpected huge losses on their supposedly safe investments.”
Since when do “supposedly safe investments” double in value over the course of a few years? No! Housing is not a supposedly safe investment over the short run. Long term it is because of the devaluation of a fiat currency and because of population increases, finite supply of land, etc.
The housing market has been through cycles in the past and we all survived. The checks and balances of a free market system are what makes this country work.
