Wouldn’t the argument then be that it shouldn’t matter to her if her house goes down a bit in value since it wasn’t liquid wealth anyways?
So it’s a win-win in a way - either you’re rich enough to pay the mortgage on an expensive property in which case lowering property values in expensive locations is a bit redistributive or it won’t affect you really in which case who cares?
So it’s a win-win in a way - either you’re rich enough to pay the mortgage on an expensive property in which case lowering property values in expensive locations is a bit redistributive or it won’t affect you really in which case who cares?