Some people do have a need, and some people don't. The people who do have a need will put their properties on the market. Their prices will undercut everyone el

Some people do have a need, and some people don't. The people who do have a need will put their properties on the market. Their prices will undercut everyone else's. Anyone who was thinking of selling but doesn't urgently need to will delay until it's not so much of a buyer's market. But this means there will be a buildup in the number of people who have been waiting to sell. So prices will recover slowly because it will be necessary to chew through this backlog. But, as in any downturn, there are people who are sitting on cash and looking for bargains. They will buy up some of what's for sale. (Downturns always create chaos, and there are people who are financially ruined and other people who multiply their wealth dramatically.)