How Should You Look at Bear Markets?

For all this talk of inflation's transitory, I think that's been proven pretty much wrong now. We've had two consecutive monthly declines on the cash chiller, but they're still well up there. So, housing affordability right now is a real issue. And yet the market's kind of gone no bid. Nobody wants to take out a mortgage at 7% plus. But if we do see layoffs start to increase and people have to sell their house because they can no longer afford even their current mortgage, we really could see some fragility there. Most people have a buy and hold mentality, which will not work well in bear markets.