Yes, this cycle lasted about three years longer than it should have. I still blame the effect of Obamacare. It made the recovery from the Great Recession too anemic. So, they had to keep interest rates too cheap for too long. Then when consumer confidence kicked in after Trump was elected we had ten years of pent up demand for real estate. Everyone pig piled in all in the last five years.
We can “blame” many things but it doesn’t matter. We have to live in reality and most people don’t. They have a fantasy about how things should be in a pretend world that will never exist. This leads to a permanent state of discontent.