1.  If interest rates rise, equities (stock market) will also take a fall as companies pay more to service their debt.

2.  "Rates will rise for the next few years" ...  says who? YOU?  Do you have any idea what sovereign debt looks like around the planet, especially the USA, Canada and Ontario?  Rates aren't making any meaningful move for years ... because if they do, kiss your healthcare, social benefits and services goodbye.

3.  Buying and holding an asset, such as real estate, for the long-term is not gambling.  As long as they can service the debt - and there is no indication to the contrary - they will not sell their homes.  Homes are not stocks in which you cut your losses.  They have utility. Ask anyone who "overpaid" in 1970 / 80 / 90.

4.  :Any rational person".  You're laughable. The market is the rational person.

5.  Name your % collapse (must be over 25%), time frame and $$ amount. I'll take any bet you want to make up to $5,000.

Any questions pal? Arrogance kills.