Underwriters are much more strict after the 2008 crash and it’s become more difficult to qualify for a conventional mortgage. New home builders were building less overall and focused mostly on building expensive ($500K+) rather than affordable homes. In addition, cash buyers still make up over a 3rd of US home purchases which include many investors. A healthy drop in prices might happen in the near term but any kind of doomsday scenario is unlikely to play out IMO.