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if everyone's houses suddenly became worth 100x more. the only way you could move somewhere else is by selling your house. exchanging one white elephant for another. this is decreased flexibility and decreased ability to build capital.
it also creates an insurmountable inequality barrier for those who didn't have a house prior to the melt-up. those who had assets prior to the capital are tempted into a "hahaha i survived on my ark" mentality while the rest of the world drowns.
assets become a life raft that you have to desperately cling to. a lonely anxious existence that is is bearable by the thought of not suffering like "the others". a melt-up creates the opposite of an abundance mindset. it reneges the very promise of capitalism.
another example is that you're paying the same price for the same dribble of stuff. that dribble has just become more exclusive. if you suddenly have to pay 1000 instead of 1 to get your water but at least you HAVE water you're a slum lord in a dystopia. yay i guess.
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