Billy Markus, who created the iconic meme cryptocurrency Dogecoin in collaboration with Jackson Palmer in 2013, an active X platform user, has published a tweet, which contained a warning about a potential crash of the global economy.
However, some commentators under his X post disagreed with him, offering their counter arguments.
US housing prices breakout to new ATH
Markus retweeted a post published by @Barchart, showing the surge of inflation-adjusted house prices in the U.S. between 1890 to 2025 in the form of the Case Shiller House Price Index.
The chart shows that in 2025, the Case-Shiller index surged to show 299.9, the highest level over the past 135 years caused by the record high demand and low supply of houses. The caption to the chart states: “U.S. Housing Market has reached its most unaffordable level in history.”
This jump surpasses 2006 with its 266 value — the year after which the mortgage market collapsed leading to the financial crisis featured in the “Big Short” movie. That financial crisis of the 2008-2009 was one of the main triggers that led to the creation of Bitcoin by the anonymous Satoshi Nakamoto.
Billy Markus commented on this chart, saying that this peak does not seem sustainable. But on the other hand, he added, “to fix the problem involves destroying the world economy.”
Fixing problem involves “destroying world economy”
What Billy Markus likely meant was the hard solution of the housing prices problem. Since the housing prices have spiked due to low interest rates (making it easier to take loans), supply shortages, investor speculation and other factors, reversing the trend would mean bringing down prices in this market.
To achieve it, the government would be driven to raise interest rates, reduce purchases by institutions and those done for speculative purposes. Some experts believe, this might trigger a housing crash, trigger banking crisis, causing mass redundancies in the construction sphere. In the end, this would make the housing bubble burst and likely to drag the global economy into the mass recession we saw in 2008.
An X user @21DogeLoge42 suggested that lowering rates would be a perfect solution to let everyone afford payments. Another commentator, @YourWebmiester, suggested that he sees not a crash but a readjustment of the global economy coming related to this bubble.
