It’ll take just one of these large “investors” dumping their properties to get the ball rolling in the down direction on price.
Re: The movie “Margin Call”.
Yep. The only thing holding up prices now is that there is no inventory on the market. People don’t want to sell knowing the replacement cost is going to kill them and investors haven’t been willing to bite the bullet and admit they missed the bus.
Sooner or later the sellers always lose this game of chicken. Sometimes it takes a long time though. Eventually though for personal reasons or because they got a job in another city, people have sell. When that happens, prices will collapse quickly.