Between the lack of jobs and inflation, I can see a day in the near future where we’ll have our adult kids moving back in with us. They just can’t afford to live on their own anymore.
Another factor that will continue to depress the housing market for YEARS, probably DECADES.
All those McMansions will become three-generation homes. Not bad from a social point of view, but wreaks hell on the housing market by increasing and maintaining inventory.
At the same time, fewer people are getting married and establishing families. So mini-storage becomes the permanant "garage" for storage boxes, etc., as people move from shack-up to shack-up. Fewer families forming, more houses remain vacant.
Add to all that that over the next decade the Boomers will start checking out in increasing numbers. Their kids won't want their houses and there will be no one to buy them. More houses, more inventory.
Etc.