``If you combine those who are renters and those who have zero mortgage debt, these two groups would make up the majority of households in the U.S. Renters will definitely benefit because they can purchase homes at a lower price without going into incredible amounts of debt. Instead of blowing a large part of their income on the mortgage, they can use freed up disposable income to actually spend in the real economy... Those who have paid off their house win either way. If home prices fall, they will get less for their home but at the same time, other home prices will fall so they can purchase a home at an adjusted level. Many of these people are not looking to move so either way it is a moot point. The only people that are obsessed with home values are those who are now real estate speculators.''

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