Sure, the bubble bursting I have no problem with: rich people take a haircut and premises are repurposed. I walk through Digbeth in Birmingham most days: Early Victorian housing that is now car scrap yards and workshops. It all gets recycled.

Anyone who's bought recently with a full mortgage will experience a burst bubble not as a haircut but as a plummet into negative equity. I suppose you could argue that they took on the risk, and other such risk-takers have made big profits. Personally I think it's crazy that individuals are expected to make these huge gambles. But people don't seem to take seriously my suggestion of nationalising land ownership...