[runnerup]

> I don't understand how residential housing isn't a big bubble.

It’s not inherently a bubble because it’s driven by demand far outstripping supply. It may prove to be bubble-like if:

A) Some significant % of homeowners see salaries reduced enough they can’t keep up on payments.

B) We suddenly start building massive amounts of additional housing units so a larger % of the population can own/rent a home and the price drops to match the lowest income that still outcompetes the rest of the non-homeowners / non-renters / uncomfortably sharing renters.

[BeFlatXIII]

I'm hoping we go all-in on option B.