Although I agree that whatever happens will be a natural correction, I don’t think it is irrelevant if the crash causes a recession/depression.
A housing crash will hurt some a lot but people who don’t have to move will be able to ride it out. A recession will have much wider repercussions and a depression will be even worse. How is that irrelevant? Even people who sold before the crash could find themselves in bad shape due to a lost job.
