Not true. Home prices can stay high even without many people buying because it's fairly easy to just let a place you owe no money on stay vacant until someone comes along and pays what you think it's worth. If you have an extra house you can take your time.

If you have no house, you don't have that luxury. You have to take what you can get, right now, or be homeless. You're at the mercy of the sellers of housing.

I say this as a seller of housing: It's totally messed up.