Wait, we are in the aftermath of a recession? From where I am standing we are in the thick of it with a long road ahead of very uncomfortable economic pressures restricting personal upward mobility. What person is looking at a 20% increase in living costs, high interest rates, and houses that were priced for low interest and more money in people's pockets?
Reality is people can't afford the pre-recession prices, so they will rent and ride it out for a while longer which will put downward pressure on people trying to sell and the market will meet the demand that way.
Or institutional buyers will just continue absorbing housing stock as it goes on the market, and converting it into rental units. Squeezing more people out of ownership and into permanent rental.
Reality is people can't afford the pre-recession prices, so they will rent and ride it out for a while longer which will put downward pressure on people trying to sell and the market will meet the demand that way.