I get that. It’s why these people don’t own homes. There was a correction.
BTW, I thought buying in the Seattle area was lunacy. But I bought my farm in central KY. It depends on the location.
The correction shouldn't have had any impact whatsoever on most homeowners. It only affected those who had a need to sell shortly after the correction. Those who bought homes as LONG TERM investments weren't affected at all, since the correction didn't raise their monthly payments (in fact, in many cases it actually helped reduce property taxes).
Yes, people who were set to sell and downsize because they were ready to retire, or had to sell to relocate due to work were affected... but those who just bought recently and were expecting to quickly make a buck were the main group who were hurt.