system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5:Why is a crash in house prices a bad thing? As a first time buyer, it would be a benefit to me if houses were cheaper, right?
gpt
It's a buyer's market now, so yes, if you have the money, it's a great time for you.

But, imagine that you had borrowed $100,000 for a house a few years ago. Now, the housing price has dropped, and your house is only worth $50,000, market price. You are paying off a $100,000 loan for an object worth $50,000. You see the problem? A lot of people were expecting the housing prices to stay level, if not rise. They lost money, on top of having to pay their loans.