1. Housing laws (restricting housing supply to increase [SF]) 2. Interest rates (when they are low) promotes more ownership 3. Federal/ State intervention : P

1. Housing laws (restricting housing supply to increase [SF]) 2. Interest rates (when they are low) promotes more ownership 3. Federal/ State intervention : Promoting more people to own homes even if they can't afford to (or their job is high risk). 4. Low unemployment 5. Fannie Mae & Freddie Mac artificially propping housing prices by not releasing the million + mortgages they have on their books. 6. Terrible software that depends on humans being able to understand what prices should be for a home, while using antiquated ideas as to what a home price should be given "comps" and not supply of housing. 7. There are so many factors that if you're truly interested... Read a book called Housing Boom & Bust by Thomas Sowell. :)