Casual reminder: the billionaires haven't lost jack shit. Virtually all of their losses are unrealized, usually in the form of stock. Once everything is finally at rock bottom, they will buy up everything they can (which will still be a lot), values will eventually rebound, and they will have lost nearly nothing while seeing massive gains.
There are so many vultures waiting to feast on corpses. Stock brokers make out like bandits during crashes, wouldn’t surprise me if something similar goes on with real estate.