Fingers crossed prices plummet. Unless someone is selling and moving into a tent or other alternative housing, higher prices only benefit flippers, tax authorities and possibly other minority interests.
For those using housing as housing, higher prices mean higher taxes, insurance, etc. and less disposable income for other consumption or savings. This nonsense is actually impoverishing our Nation and is a result of ongoing fiscal and monetary fraud, not wealth creation.
Big difference between "price" and "value". Price is what you pay value is what you get. - Warren Buffett
Unless homes can magically grow additional living space or other amenities, the "value" hasn't changed, only the "price".
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