This might just be the most myopic thing I've ever read here. Do you have any idea what would happen?

For starters, the largest homeowning demographic would default on all of their debt, causing the money supply to contract violently, while simultaneously tanking the housing market. The ones who didn't lose their homes would drain their retirement accounts, tanking stocks.

Then they would all reenter the workforce, and the ones who couldn't work would apply for disability and food stamps, stressing an already stressed system. And all this at a time when layoffs and unemployment would be at all time highs to begin with, due the economic catastrophe caused by them all losing their houses.

And do you think that people will continue to pay into social security upon realizing they'll never get it? Of course not. There would be riots over it, and the government would lose all that tax revenue and probably default on the debt.

And the people all this would hurt most are the working aged. The millennials and gen z. The boomers would all die soon and we would be left to inherit the mess.