With the housing collapse a bunch of rich people lost a ton of money. Homeowners got bailed out through bankruptcy and the banks through bullshit. The drop in housing prices wouldn't have been bad if it didn't result in banks collapsing.
If housing values dropped again we would hopefully be safe from all that this time. People are largely living in places they can afford and banks don't have half the US GDP tied up in risky housing bonds and bad loans
If housing values dropped again we would hopefully be safe from all that this time. People are largely living in places they can afford and banks don't have half the US GDP tied up in risky housing bonds and bad loans