“Of course housing will crash.”
As it should. Normal economies do not have constantly soaring housing prices while wages remain stagnant for four decades.
2) Wages in real terms were stagnant for a long time, but not in nominal terms. Real estate has basically kept up with inflation despite larger homes and nicer homes than 40 years ago.
Housing only crashes when you have a ton of foreclosures. That is extremely unlikely to happen this time.