[Theoria]

No guarantee on that one. Gen x, y, z etc get to compete with people who have cash. Wealthy individuals, hedge funds, foreigners, sovereign wealth funds.

Globalized safe havens like the US, for now adds to speculation. Canada housing is even worse in multiple areas because of the flight of wealth from China, etc to there.

[Pelham]

You are correct.

And those hedge funds, sovereign wealth funds, foreign investment funds don’t care about mortgage rates.

They often don’t care about prices. That’s the money that comes in with full cash offers above the asking price. It’s transforming America.