The fixation on defending home values has poisoned the well for the American Dream and bifurcated the citizens into haves and haves not. It is untenable. If prices fell, people would still be able to live inside the home. It retains utility. They may not be able to flip it for a profit for a while if they bought recently, and a home equity loan would be less useful, but those are options for people who already have property and equity. There are millions who don't own property to begin with and never will if we keep buoying valuations with every decision we make. The Fed still holds $2T MBS by the way.(𝐓𝐗𝐌𝐂)