The millennials are behaving 100% rationally. Why buy over-pumped housecoin when the people who own all of it are going to start dying and when they do, it's going to dump a SHITLOAD of inventory onto the market.
Discussion
nostr:npub1mh5a6mhm4u78glqxhltq7uexv6kddphycthlguvn0ux8ch72tc8q6q233h Oh that's the best part.... People going into nursing homes will have to sign over assets such as housing. The nursing home and/or medicaid gets the house, the children don't inherit it, and it's invariable bought x% over asking, cash, by some corporate landlord.
Housing is one of those things where I think you shouldn't treat it like a financial investment. Practically it has been, but I think morally it shouldn't be.
Morally speaking, unlike most things it's actually a zero-sum game. If your house goes up in price, then that just increased the cost of living for the next person who buys it (and probably for you too if you intend to live somewhere after you sell it). It also increases rents -- Not because of the fallacious economic reasoning that says prices are a direct function of the cost to produce a thing, but because the landlords who aren't raising prices ultimately get run out of town by the ones who are.