As things come further unraveled I believe that there will be a resurgence of living with less because people are really going to end up being upside down on their properties, way down on their retirement accounts, and they are going to realize that their timing was off and all their hard work is being inflated away into oblivion and they are no further ahead than where they started decades ago. Seeing the amount of new build neighborhoods in these various cities is insane. Even if a person lost their job now and they turned around and tried to get out of these properties they are already underwater if they bought in the last year or so in a lot of these places. A lot of these property investors that bought properties by pulling equity out of their primary residences will end up in a really bad position. They daisy chained several properties together but as soon as people can't pay rent or don't renew their leases things will unravel pretty quick and a lot of people will be washed out fast. As things look worse and worse people will point fingers at those in charge. Other people will go completely crazy and will be very dangerous in times of desperation.
