This graph indexes the price of housing to the price of other goods over time. The Case-Schiller Index is weighted towards population centers, so the swing shown is exaggerated by, lets guess 20%.
But a price correction below the baseline ‘100’ value is logical, lets guess that this correction equals the 20% urban exaggeration. This modeling yields a national housing value drop of 40%, a bigger drop than our previous estimate of 30%.
This would indicate a banking loss of $4 trillion, plus the administrative costs of foreclosure and resale, pushing the number to probably $6 trillion.