US housing market to see the second-biggest home price decline since 1939

Look no further than your local MLS with properties active 90+ days and the prices they’re asking. This is the “missed the market” cohort, and there is a long line of folks who are going to be exceptionally sad with the forward looking macro on both sides (stubborn sellers as well as recent buyers seeing an immediate decline or ongoing stagnation in their home price).

I am not unsympathetic to those are recently bought and will see their home values and some of their equity decline, but artificially propped up values are unsustainable.

I think you meant to say "just on the down side". They were not too sticky when going up for more than a decade.