I can't see a lot of people losing their homes in Iceland. It's not as though there's anyone else to buy them. You have lots of geothermal energy, and they can't take that off you either, unlike oil or gas. Iceland isn't huge, so you should be able to get most places by bike. You're surrounded by sea, so you should be able to catch enough fish for yourself. Supplemented by agriculture, even in the case of international financial catastrophe, I think you should be able to land on your feet. And of course you can while away the long winter nights playing and singing.