[Deathmonger]

Everyone is affected if housing prices have a significant decrease.

E.g. people will be able to buy houses again for less than 33% of their incomes. That's probably not the effect you had in mind. Everybody likes the free market when it goes up and wants government price supports when it doesn't.

[RockinRight]

That is a good thing about falling prices, which are already occurring BTW.

The problem arises when the crash is too big and so many people are unemployed or see major drops in income, that they can’t buy anything at any price.

[HereInTheHeartland]

“E.g. people will be able to buy houses again for less than 33% of their incomes. That’s probably not the effect you had in mind. Everybody likes the free market when it goes up and wants government price supports when it doesn’t.”

Car sales, computer sales, restaurant sales, etc, etc are affected by what the housing market does.

It’s hard to find people that aren’t affected.
Again, I haven’t seen how tax payer money is “bailing out” anyone.
Seems like the private sector is carrying this one.
I for one believe that economic stability is a good thing for everyone. Banana republics have economic instability.

I don’t hope for Armageddon in any industry, or have the attitude that “ I have mine so screw everyone else”.