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From the perspective of a young person with high savings and no debt who doesn't want to work in an office forever:

The collapse of the housing market would be a minor miracle.

Most people go to work to pay the mortgage. The availablity of credit boosts peoples ability to hand over huge amounts of cash for a home. With less credit would come less demand, and thus lower prices.

This mean I can save hard and buy a house freehold, thereby freeing myself from the debt / office-work trap thats used up the entire lives of most baby boomers. What a crappy way to spend your life. I'll do anything in my power not to follow in your hoodwinked, investment bubble orientated footsteps.

I don't want a property portfolio and a high net worth. I want to live a nice life in my own house.

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