My guess is that this goes for real estate as well. Low interest rates are also fueling home sales.
The big question is when, and if, the Federal Reserve tightens up as a response to rising inflation. A 1.5% dividend yield doesn't look so great when you can get a bond that pays 10%. Buying a home is a lot less attractive when you're paying 12% on the mortgage.
“Buying a home is a lot less attractive when you’re paying 12% on the mortgage.”
Current rates are 2.0%