What utter tripe...house prices dropping coupled with high inflation and job losses put many many people in negative equity and unable to meet the monthly mortgage payments. When the inevitable happens and the house is reposessed they still owe the bank money even after losing their home.
Quite how you can say house prices falling at there fastest rate for 2 decades is a good thing is quite beyond comprehension.
A correction for some might be a good thing is they have thousands saved up ready to go - perhaps. For the economy in general is is a pretty godd indicator we are heading for recession!