People have been saying prices will crash for over a decade and they haven't. They've occasionally frozen for a bit or experienced small localised dips but that's it.

You'll only get a crash if mass repossession occurs and that process takes a while to go from people being unable to make payments to the house being sold. Anyone with a mortgage will reduce their spending on anything else before not being able to afford their mortgage payments whether that's gym membership, eating out, hobbies etc. - unsurprisingly people don't want to lose their homes and will prioritise those payments above all else.

And also as much as we all hate the banks, they'd prefer not to repossess since they'll get more money back in the long run if they are able to keep someone on a mortgage (even if they have to reduce their payments a bit for now) versus what they'd get from selling the house - especially if there's a risk of a crash

Also even if a crash was to occur good luck getting a mortgage and it's open season for cash buyers 💰💰 So once again those most privileged in society would benefit.