Comment by Mountain_Skies

There are 1.5 million housing units under construction, which is an all-time record. It'll be interesting to see how quickly that get absorbed in a market with rising interest rates and questionable valuations. There appears to be lots of demand but what I'm seeing in my corner of the world is most of the demand is at the lower end of the market, which I'm guessing isn't what is primarily being developed. People moving up does free up properties at lower ends of the market, so in effect, a trickledown effect, but that takes a while to happen. Maybe we're going to see more and more house sharing and renting of individual rooms (legal or not).