This country is SOO rich. It's far richer than many can imagine. There's 22+ million individuals who are millionaires, also not mentioning the other 10 million that could liquidate everything and have a million in assets tomorrow. Then there's the high end of the earning curve, which is very high as well. This inflation is a mild nuisance for these people and will not curb their spending. The low income individuals barely factor into the economy when things are good. Certainly, they aren't buying houses regardless of any time period. The controllers of real estate aren't impacted by this inflation, rates or home pricing surge the way you may think. I've known a lot of rich people, they have an abundance mindset, and they're not going to stop buying real estate. They need to make more than last year and the year before, and real estate is what rich people spend money or use debt on to increase wealth. These prices really may be permanent, and the population is only going to grow. The rich will only control more of the housing as time goes on. With the growing population supplying the demand regardless of pricing because everyone needs housing. You'll just see a lot of multiple roommate situations, younger adults staying with their parents EVEN longer, etc. Will it crash sure eventually but not necessarily at the prices it's at now. I believe housing will go much higher over the next decade. This is not the peak imo. We may see a dip, a plateau, then a continuation over the next 5 years.