Suppose that the market for housing is perfectly competitive, i.e. there are many consumers, and that housing is a normal good. Next year half the consumers will be getting an income shock that is either negative or positive. Every consumer who will potentially receive the shock knows they will be getting a shock. First suppose that shocks are independent and identically distributed across individuals.

Would a consumer with high willingness to pay or low willingness to pay be impacted more in the above situation? I'm inclined to say it's the group with low willingness to pay but I don't know what principles to apply to back up this intuition