Could one point explain the other? A basically frozen real estate market prevented a lot of people from buying real estate - as a result they spent more money o

Could one point explain the other? A basically frozen real estate market prevented a lot of people from buying real estate - as a result they spent more money on consumer goods, which boosted salaries of low-income groups? If that's the case then once the real estate market unfreezes and people spend more on their homes rather than consumption we'll see the economy tipping over? Both because house prices stagnate (or even sink), thus making existing home owners feel less rich and because new home owners have less money to spend (because their money is going to the new mortgage).