“When the dam bursts it’s going to be epic.”
Can you describe this means?
It think the poster means if there is a slight economic downturn and people suddenly start selling, the pricing for homes will collapse quickly.
> Can you describe this means?
Main support for prices is lack of inventory.
The hope for lower interest rates - thereby lowering the monthly payment - is another support. Historic measures of income don’t support current housing prices.
So, the market is currently in a standoff (indicated by low volume). There is little room for price increases, so once people (and investors) start thinking they should sell before the price goes down, the levee bursts.
Just my thoughts, I’m probably wrong ;-)