re: Let’s discuss the housing market

Covid created a shift in how people are living and working
The work from home thing is likely going to stay in some form.
That means people can move from an urban area to a sub or rural area and do their job.

Interest rates are low enough to keep the money flowing.

Building costs are at historic highs. Lumber just hit an all time high this week. Other building materials are high too.(metals, cement). Then there’s a shortage of appliances and other materials... it can be a pain in the arse to build.

Then there’s the opportunistic selling going on. I saw some recent houses go on the market just because neighbors got historically high prices. Still though, house inventory is below demand. Agents are knocking on doors now to see if people want to sell. Last time I saw that was 06.

I think the only thing that can slow the pace is a correction in the cost to build and/or an interest rate hike but I don’t see much chance of the latter.
I thought building costs would drop as we got out of covid but they’re still very high. It’s unsustainable though and will correct. That will give buyers some options.
The outlier would be some bump in the economy and we might see something along those lines but I don’t see it anytime soon.