That the water rich places have been losing population to water poor areas would allow you to buy real estate in those locations below historical norms. If you

That the water rich places have been losing population to water poor areas would allow you to buy real estate in those locations below historical norms. If you buy into the "water will be more important in the future" hypothesis then it's probably a good bet. I agree that it's hard to know if a correction is coming. I suspect that it eventually will happen, but how far away that eventually is I don't want to speculate. Might be a couple of years, might be a couple of decades.