Housing market has always gone up and down. It works itself out.
Yep, this is just a phase.
If people want cheaper houses move to any area where houses are cheaper.
Housing is going to crash
The #1 buyer of homes today is still the Baby Boomers and they aren’t downsizing and are buying bigger and bigger homes. Never has there been so many elderly buying so many premium homes. This is a big driver of the high prices we see today.
But as more & more of the them die, more & more homes will come on the market.
Millennials and especially Gen-Z certainly can’t afford these homes at their current prices, so there is only one direction the price can head.