Kek. Economists still base their analyses on the idea of a free market.
Here in Commiefornia at least, housing prices will never go down, because property tax is tied to the sales price.
So we have deep pocket corporations buying up the homes to prevent a collapse: Wedgewood Homes, Seller's Advantage, Blackstone, etc. that will buy any home in any condition
Everything is a racket and We the People are the bagholders