Yes, people who own real estate there are screwed. Either the gov't comes in and buys it or they lose the value of the biggest asset they own.
In the first case, society explicitly buys their property, in the second, these people lose a huge chunk of their wealth, hurting the economy.
I might not move away depending on circumstances but I'd certainly move my money out.
Let a house in Montana, rent a house in NO, feel guilty for being an absentee landlord.
