So, who's buying? Go down the street and purchase a reasonably priced home.
"Year-over-year changes in inventory paint a more complete picture. Compared with last year at this time, the number of active listings in the largest metro areas is down 48%. This is particularly remarkable considering they were already down 23% year over year when comparing Q2 2020 with 2019.
"Before the pandemic, we were already in the midst of a housing shortage brought on, in part, by insufficient new construction and demographic shifts. Then the already slim pickings were decimated by the events of the past year.
"This quarter marks the first time in our analysis that all 50 metros experienced a year-over-year decrease in available homes.
https://www.ocregister.com/2021/08/04/california-ranks-low-for-home-affordability-by-this-math/