[hijinks]

housing would need to drop for companies to pay less.

[jacalata]

If employers suddenly started paying less then I'm pretty sure housing would drop.

[AstralStorm]

After a very very long time only. It is not a liquid asset. It does not react to sudden price shocks quickly if at all.

[jacalata]

I was thinking primarily of rent, but I'm not sure if house prices wouldn't fall pretty quickly too - people suddenly cant afford payments, supply goes up, a few short sales to lower expected prices, sellers who can't afford to wait for a better offer - bang.