Fortunately there are many people who are also mortgage free so it really doesn't matter if the housing market crumbles.
It's collapse is long overdue and has been artificially propped up for way to many years.

I used to study the housing market quite a bit but the constant Tory government interference in the market made it impossible to correctly gauge.

Labour needs to build millions of houses and fast. Not the paltry 1.5 million suggested.
That would bring the markets back into equilibrium. Some people will lose equity in their properties but it's for the greater good.

At the moment virtually no one can afford a home and that is not only scandalous it's against basic human rights.