... and let me recommend this blog post about how the housing bubble was exaggerated, and it the bubble is real, the money manifesting as demand for housing is really there (of course coming from the economic growth and brutal amounts of wealth transfer from will-be-owners to was-owners)
housing related supply-side problems are simply very hard to address whereas everybody and their dog is pumping money into the market (cheap loans to help families, singles, poor people, cheap loans to developers, and anyone who wants, because it's low risk anyway, and companies are doing CoL adjustments, and then there are spillover effects from big metro areas, and foreign investors ...)
and US population was growing, and construction starts were and are still low (historically but compared to the "pent up" demand)
of course the problem is that simply pouring money into housing without transportation infrastructure just leads to even more problems, so it's really a problems bubble! (always has been.)
https://www.fullstackeconomics.com/p/the-2000s-housing-bubbl...
housing related supply-side problems are simply very hard to address whereas everybody and their dog is pumping money into the market (cheap loans to help families, singles, poor people, cheap loans to developers, and anyone who wants, because it's low risk anyway, and companies are doing CoL adjustments, and then there are spillover effects from big metro areas, and foreign investors ...)
and US population was growing, and construction starts were and are still low (historically but compared to the "pent up" demand)
https://fred.stlouisfed.org/series/HOUST
of course the problem is that simply pouring money into housing without transportation infrastructure just leads to even more problems, so it's really a problems bubble! (always has been.)