Actual rich people benefit. Highly leveraged “rich” suffer.

I have an acquaintance who is a big landlord. The housing crash was literally the best thing that ever happened to him. He literally bought dozens of properties all of the place because he sits on big piles of cash and has generous credit lines backed by his cash flow.

My guess is that he spent about $10M and netted at least 3x from the 2008 crash.