people will just tank it forever.

Remember people that bought the properties are probably done making multiple buckets of gold with strong financial saving that going to pass on to the next generation.
For them, it is not about the price, it is about passing the assest to the kids.

For those who bought at the expensive price during peak, probably will never sell it cheap. Hold it forever and live on.

Those that selling actually from auction or those that need urgent money(bankrupt soon, etc).

So price not going down anytime soon.
Unless there is a major breakdown in economy.