While I do agree the real issue is too much debt,
Yet lower home prices will not solve the above.
We are currently choosing the path that leads straight to the Japan Trap,
High debt, lower and stagnant wages leading to lower household formation and an aging declining population combined with ever higher defect spending (in 1988 Japan had a surplus big time).
And that very same aging population SCREAMING for a flat currency,
We need wage inflation and we need it fast or we join Japan,
