Bruh. This has nothing to do with like Elon coming and taking the house away. This is just plain old reality.

Without income or savings, people can't afford houses. How would they pay the property taxes? Can't maintain the house. The house gets repossessed or sold for taxes. This happens all the time. Nobody swoops in and saves those people.

Also, hang on. Will we be "not worse" or will our standard of living "fall precipitously"? Those feel different.