To actually advocate for their position: the US housing market isn't the consequence of natural market forces; it is the consequence of government intervention in the market to force a specific outcome. Housing prices have been rising as a percentage of average income for a long time. That cannot continue forever, so it won't, there will be a breaking point eventually (arguably we're just about at that point which is why it's become a political hot topic). We can choose policies to gracefully reduce prices over time or we can just let prices climb and the housing situation become ever more acute as it becomes increasingly difficult to people to own homes.
Housing prices going down will undoubtedly disadvantage people who made homes their primary investment vehicle. Though those people also just an investment path was dependent on the government creating artificial scarcity combined with interference in the loan market to keep the ship afloat. It will undoubtedly hurt. But it also hurts right now for individuals who did not choose the current set of regulations and suffer under the fruit such regulations have born (sky high prices, a lack of starter homes, etc.) The current housing situation is one without easy answers. It is a crises of our own making, but now that we're in it we will have to rip off the band-aid or just let the wound fester till it's something even worse.