The Pandemic Ignited a Housing Boom--but It's Different From the Last One

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2. Interesting article and thank you for posting. I had heard of this happening and I was

indeed curious as to why etc. and this answered a lot of my ?s.

I do think that a lot of buyers were on the sidelines when prices were up and up price-wise, and couldn't afford the housing then. A lot of them didn't spend their savings and a lot started saving (I seem to recall that the rental markets boomed too during this same time period).

And now that markets steadied, they moved in and started buying. With more cash too, they didn't want to undergo the financial mess that the banks and other crazy lenders make then, so w/ fewer borrowers hurting their credit, markets got better, more people kept buying (w/ lots of cash) homes, and etc. No mortgages or such. I did the same thing. I got tired of my lender and decided to pay myself those mortgage interest payments. Where else in today's world can you make a better return?

In addition, I think people are scared of investing in the super high stock markets, where valuations were somewhat inflated w/ companies buying back their shares, thus inflating stock prices (and the indexes too).

So in effect, this boom is a 'for the people thing, by the people thing'. No billionaires, no rumps, no business incentives, all individuals and their families doing this buying, building up their neighborhoods, etc.', causing the good valuations people are seeing in their own neighborhoods (hey, fixing up one's place does pay off, etc.).

So maybe a sort of transfer of wealth in the 'right direction' so to speak...