“We have the biggest demographic in the country in their prime household formation years. We underbuilt houses for a decade. Current homeowners are going to have a hard time letting go of their 3% mortgages to buy a new place. And the finances of those buying are in such good shape that people are willing to pay up for a house right now.
This is far from a healthy housing market. Unfortunately, things could remain unhealthy for years to come. If you’re waiting for another housing market crash to buy in at lower prices you’ll likely be waiting for a very long time.“