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Is there a world where housing prices plummet and the economy doesn't collapse?

So this might be a stupid question but I really don't know much about the real estate economy or economics in general. All I know is that unless housing prices drop to a fraction of what they are now or my industry gets a major pay bump I will never own a home.

So basically I was wondering if there's any world in which housing prices fall dramatically (like in the hundreds of thousands) and the economy doesn't collapse. Is there any way that houses become super affordable and easy to buy and the lives of average Americans aren't really affected?

Obviously a major downsize would be that current home owners would loose a lot on their investments. Could that be helped by remortgaging or something similar?

I just don't really understand how houses are just expected to keep going up and up and are never allowed to go down.

submitted by /u/CatEmoji123
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source https://www.reddit.com/r/RealEstate/comments/uuhkdy/is_there_a_world_where_housing_prices_plummet_and/
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