Black Rock has been practicing exactly what they describe on a large scale.
Interest rates are making the high price of homes beyond many people’s ability to pay. Insurance companies are also contributing to the affordability of homes, because their risk increases with price of home. Some of the companies are suckled at the ChiCom money teet. (also some of them are criminally crooked, I’ve seen that 1st hand.)
The effect of this will be less in short term in places like Florida and Texas where a huge influx (from inside the USA, not illegal alien) of new residents.
I know of a retired couple just having sold their winter condo in Clearwater Florida. Being in a hurry to get it on the market they listed with the first agent they contacted. She listed for 165k and brought a client in to see the property before it was even publicly listed. After a couple counter offers it was sold for 160. He was from Bosnia.
He played the part as if he was going to move in himself. By the time they returned home, the property was back on the market for 190 with the same agent. It appears she has a history of unethical practices with this client in the past.
Shortly after this I was watching an interview with a RE agent from Clearwater who stated that she sold an upscale house to a foreign family and when she went to the title company to record the sale she was told by the title company that there has been a flood of foreign purchasers paying cash, and the cash was being provided by the U.S. government up to 400k.
Not saying it was verified, just what I heard her say.