Wouldn't mind some new neighbors, not planning on selling, not going to contribute to the landlord crisis, I say let it burn.

My house is like 25% paid off, I don't care if it loses 90% of it's "value" I'll keep paying the bills. Rather everyone have affordable housing than some extra cash in my bank account.

Can't wait. If it could happen in isolation and not involve a lot of people losing their jobs, I would love to see prices come down. No downside for homeowners really, the house is the same house independent of market value but taxes will decrease so monthly cost will decrease.

I'm old and know prices don't go up forever. As soon as those "we will buy your house" signs and phone calls start, it's near the end.

Burn it all down and end secondary real estate market. The housings price problem started with that.

Usually things crash when enough people capitulate and think it won't crash. Gotta maximize the pain so that those with money can swoop in and gobble up all the assets. Most likely the crash will be combined with mass unemployment so that even people who have bought into a home risk losing it by not being able to make mortgage payments.

I wouldn't hold my breath waiting for any sort of epic crash.

I expect that home ownership is going to become solely for the upper-middle class and up, and that home prices won't make any serious downward movement.

I expect the housing crisis will eventually start to ease as areas become more accepting of high-density housing development, and that will become the sole province of people with finances beneath the home ownership class.

Essentially, the establishment of a much more distinct and explicit two-tier system. Prices in one will have minimal impact on the other, much like how any swing in prices for small passenger boats has no impact on the price of yachts.

I paid 91k in 2017. Zillow says my place is worth 209k just six years later. I'm more than prepared for it to tank but it won't go lower than I paid.

Your house isn't increasing in value, the buying power of your currency is falling.

I'll believe it when I see it. I think there's low inventory.

In the US, at least, the last housing market crash was because people couldn't afford their homes. Since most homeowners are now on fixed rates and most people's incomes are significantly up since they purchased, there probably won't be a housing market crash like last one. Even with losing a job, a lot of these people could get a significantly less paying job and still be relatively okay compared to their Great Recession compatriots. With investors, most aren't in real estate for the short term. A lot sit on housing they don't rent or lease, even in a seller/landlords market. So you're left with poor investors and the short term housing investors, who can probably cause a collapse by themselves, but in an increasingly wealthy domestic and international market base, those will most likely be bought up before a significant dent in the housing market happens.

However, the federal government needs to increase housing supply and public transportation infrastructure by an obscene amount very soon, unless it wants a major economic and societal collapse in the coming decades that it may not be able to pull itself out of. A housing market collapse like 2008 should be the least of their worries.

My condo is paid off, actually. But I still want to to crash, because the price gap between my little place and a larger home is way too big. I basically can't upgrade unless prices fall.

It often feels like it doesn't even matter to me. I'm never going to be in a position to get out of massive debt and afford a decent home either way.

Not worried in the least, house is < 10 yo and don’t plan on moving anytime soon. I also think my houses “value” is over inflated anyways.

Now if I bought in the last 3 years? Yea I might be sweating a little bit about being under water, depending on price and location.

Bring on to crash!

The only way this benefits a home owner is if they can live somewhere else for cheap or free. If you can't do that selling is pointless.

Once things come down then I could potentially afford a second home on my income. Additionally people less financially fortunate can afford the first house (or at least see their ridiculous rent prices drop).

It will be unfortunate for people who bought at an inflated rate so naturally those people won't be so crash happy but that's just the nature of it. If you are someone in such a situation then selling now and paying high rent elsewhere may be a wise decision. Not that prediciting a crash is a simple task.

Home owner, I started buying back in 2007. Been through one crash, and if another crash makes it so I can move again, fuck it. Let the whole thing just burn.

I never counted on equity, and the system was fucked from the start. At least this way I wouldn't feel trapped.

US person here

I was lucky to be in a position to buy shortly after the 2008 crash, so another crash would erase a good chunk of equity (but I see most of it as fantasy equity anyway) but otherwise I'll be fine. I was in DevOps/SysOps for a real estate tech company at that time (and until recently) so I got to see the weird market moves in real time.

Nationwide we've already seen about a 4% drop from the end of the 2022 sales season (Memorial Day - Labor Day) to the end of the 2023 season. That decrease is actually as bad the height of the 2008 crisis but the drops were most felt in the most overpriced markets. This allowed the rest of the nation buffer against it so it's not having a big effect on main economy metrics (like the consumer confidence index).

Basically the bubble deflated considerably without popping, which is overall a guard against a (really bad) crash. Of course 1/3rd of China's economy is their housing market and it's on the verge of collapse... I don't know what that will do to the US but it won't be good.

I'm not selling in the foreseeable futher, so i care little.