Let me share a short story (yes, i went there).
I bought a house in 2005. $120,800. In 2015, I sold that house for $120,000. See that? Sold it for less 10 years later.
I bought my current house in the panhandle in 2020 for $375,000. In less than one year (so far) it is now worth $423,000. See that? What the holy hell fuck?
Now...I'm not moving, nor selling. Not only that, I fully expect a housing market crash right after commercial real estate crash this summer and watch my house crumble to 50% devaluation. I'm prepared for that. I'm "work secure". I won't go bankrupt, won't lose my job.
People with money are moving here and paying anything. My new neighbor paid outrageous amounts of money for the house. Great people, awesome neighbors. Were looking for 2 months to find a house in my area they could "afford". Yes, prices are nuts. No, i'm not in miami...fuck those assholes.