No one ever seems to mention the population demographics. There just aren’t enough buyers for the McMansion the baby boomers will be leaving behind.
Young buyers don’t want a 4-3 in some 35 year old suburb here in Houston. I am not sure who is going to buy all these houses when the current owners die.
There are newer neighborhoods just north of here (that aren’t on the bus line) with newer fixtures and designs for the same price.
Same thing here in Phoenix, sorta. New home sales are rather strong. Nobody wants the houses 10 plus years old, for the most part.