The Unaffordable Dream: Understanding Rising Home Prices The housing market has been on a tear for years, with home prices skyrocketing to levels that are becoming increasingly difficult for many Americans to afford.
This trend is not just a matter of supply and demand; other factors are at play. Historically, housing prices have fluctuated with economic cycles.
However, the current trend is different from previous market corrections. The last major correction occurred in 2008, when a housing bubble burst due to lax lending standards and excessive speculation.