I totally agree with you and purchased my home a month ago. I lucked out and got it at asking price before others could come in and bid above. I, like you, don’t see housing prices falling anytime soon.
Congrats on your new home, and getting it “Cheap”....meaning you didn’t have to get into a bidding war for it.
We have a family friend who is in her mid 40s..and she and her husband literally just spent 90k over asking price on a 500k home in Massachusetts.
I guess they reason they went all in is because they see it as the forever home, and the last two attempts they made to purchase a home in the last year, they were bid up buy another buyer until they backed out. On this last one...they said “Screw it”