No, they'll lose their homes if they default on their mortgage.
Which is likely to happen in a large number of cases if the interest rates rise, which will be about the only thing that could cause the housing market crash you rather selfishly want.

I don't personally think that a bunch of families losing their houses so that I can knock a few grand of the cost of moving is a fair trade, really. Even if they did over-extend themselves buying it. Which a lot of people did, what with being desperate to own their own homes and the prices being so high.
( Kroney, Tue 26 Mar 2013, 10:05, Reply)