Housing has little to do with the price of consumer goods, and instead is largely driven by the availability of land (supply) and the number of people who want to live there (the demand).
We aren't getting rid of anybody (the election pretty much assures that with regard to illegals), and we aren't adding any new land to our continent. So the idea that suddenly everybody is going to want to live in little tents on street corners is simply silly.
The price you can get for your house might drop, maybe as low as what it was 2 years ago, hardly a major setback in the long term given how much housing prices increased over hte past 5 years.
But anybody who is hoping for houses to be given away any time in the future is going to be sorely dissappointed.
Oh, they ARE giving away houses here in Virginia, good solid aluminum houses used on the old military base. You have to guarantee you'll remove the houses and rebuild them somewhere, and apparently it is too expensive or the housing isn't good enough.
Everybody wants 5-bedroom houses with 4-car garages.
But supposing houses will get a bit cheaper, it's hilarious that everybody cheers when you can buy a car on sale, but nobody likes a good cheap house.
I predict that Real Estate will continue to appreciate at a rate greater than inflation like it has for the past 40 years (except for 1989)...see 1st link. Gold on the other hand didn't do as well...see 2nd link.
http://www.realestateabc.com/graphs/natlmedian.htm
http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx