How much wealth was lost due to real estate collapse
No wealth was lost. It was a zero sum game where fiat money was transferred from one entity to the next. Ultimately, only the trade balance matters, those dollars are exported causing more dollars needed for the economy to function. Bubbles don't create wealth or destroy wealth, they only change how much fake money is needed to buy something.
Yes, you are right, buy hard assets, dig a hole and hide them.
Greek, it is amazing here in florida, like nothing I have every seen. Every bar and place to eat is always packed. Even weekdays, but nobody has a decent job. Young people are out every night and old people are contantly eating ou. Many houses are for sale with few buyers.
I would say 25% are on disability somehow and we have 12% unemployment.