People suffer in recessions.

On the contrary, I think a recession - and hence a discount in asset prices - is good for people.

Good for rich people (those with money to spend on assets). Absolutely not good for most people.

Rich (<1%) already own assets, but the rest aren't invested enough. Asset prices right now are unaffordable. A big correction will give the rest a much needed discount. Agreed that there is a big segment in population who can't afford assets either way. But usually recessions impact the middle class the most.

Losing your home is not good for people.

Are you getting against the market? Cause of not then you probably want it to keep going up.

It healthier that the market reflects reality. Boom and bust is a stress inducing net negative pattern for society.