I personally think they will crash, but to what extent I am unsure. It also relies on what the government does in response to these markets going downward.

The recent actions by the government, by punishing people with good credit and rewarding those with bad, will probably act to somewhat "cushion" the crashes fall....at the expense of economic stability in its entirety (and also doing nothing to actually really solve the problem with the houses being too unaffordable to begin with, meaning the issue will absolutely show up again and probably as fast as it did from the 2008 crash, if not even faster).