Everyone except those who see houses for what they are: a place to live.
A home is a liability not an investment. Its value may go up, may go down. But in the end it's a place to live and as long as you can make the payments, short-term swings in housing prices don't matter.
Yes and no. If you own a second house for investment purposes it is an investment. But for the vast majority of us a house is our home. I look at it as a valuable family assest, not an investment.
Um...no...many people are going to want to sell a home. They will be affected. That then filters down.