Bust? Someone needs to visit the Reno/Sparks market. The builders here are throwing up houses and apartments like there’s no tomorrow. So much so that there is a push for the city of Sparks to acuire 40,000 acres if federal land on the east side of the current city limits. Infrastructure? Meh! Will get to that eventually.
Biden is trying to ruin the housing market with attempt to have people with good credit getting mortgages subsidize mortgage applicants with bad credit.
There are many, many stock millionaires still.
Lots of people own Apple, Amazon, Alphabet, etc. shares.
There is a SHORTAGE of houses in the country. Every year that we build less than 1.5 MILLION new homes we are at a deficiet to demand. The USA has a population of 330 million people. Based on that population economists state we need to build 1.5 million NEW homes to keep up with our population and growth. On average houses last 75 years(the burn down, floods, hurricanes, earthquakes, etc). So, they need to be replaced.
Ever since 2007 we have built less than 1.5 million new homes with the exception of 1-2 years in that time period. Keep in mind that “new” home can be a single family detached structure. A semi attached condo. An apartment or a mobile home or factory built home.
In general, the US has been building a higher percentage of multi-family homes since 2009 than prior to that. Some of this is due to changing demographics. An average the US is getting OLDER and families are not having as many children.
So, the older people are downsizing at the same time as the 20 and 30 somethings are not having as many kids. IF you do not have kids, there is less of a need to buy the house in the suburbs with better Publik SKOOLS.