Millions of Buyer / Renters Hoping for A Crash

A growing number of Americans are rooting for the housing market to take a nosedive, frustrated by soaring home prices and crushing mortgage rates. A LendingTree survey found that 36% of people actually want the market to crash, while 38% believe it could happen in 2025. The reason? Home ownership feels increasingly out of reach, and many see a downturn as their only shot at buying a home.

Renters, in particular, are eager for a price drop. With affordability at record lows, they hope a crash would finally give them an entry point into the market. But it's not just those without homes who are wishing for a reset—many current homeowners are also hoping for a correction. Some see a dip as an opportunity to snag investment properties at bargain prices, while others feel stuck in their current homes due to high mortgage rates and want a market shift to regain flexibility.

Is a crash coming? Despite the frustration, most economists don’t see a repeat of 2008 happening. Instead, they expect a gradual cooling rather than a full-blown collapse. The housing supply remains historically low, and demand is still strong enough to keep prices from plummeting. While home price growth is expected to slow in 2025, a steep decline is unlikely.

For buyers, waiting for a major price drop might not pay off—but lower interest rates could make purchasing more affordable. For sellers, the market may shift slightly, but home values are likely to remain stable, making it a good time to sell before competition increases.

The bottom line? Millions want a crash, but it's unlikely they will get one. Instead, I'd say expect a gradual re-balance, requiring both buyers and sellers needing to adjust their strategies rather than bet on a collapse.