> Those of us fortunate enough to have 30 year fixed rate mortgages at about 3% are about to see our mortgage “debt” give us better returns than our stock holdings.

This is incorrect. That's only if house prices go up along with inflation, which I don't think it will. House valuations have been sky high, like the stock market was 6 months ago. There's a lot of room for valuations to pull in, I would say at least 33%, if not 50%. So we could see deflation in house prices, and a net loss even though "real" rates are very negative.