Decreasing in real value, sure, but people hate the idea of a nominal loss when it comes to selling their house. And with inflation still higher than usual, it'

Decreasing in real value, sure, but people hate the idea of a nominal loss when it comes to selling their house. And with inflation still higher than usual, it's entirely possible to have a 15-25% loss over five years in real terms while still looking like a wash on paper. That seems like a more likely scenario than an outright crash right now.