Probably not, more like a continuation of the last real estate boom where the new money (from zero or negative interest rates) is going into multi-family mega-c

Probably not, more like a continuation of the last real estate boom where the new money (from zero or negative interest rates) is going into multi-family mega-complexes instead of McMansions this time. Where I live (downtown Phoenix) every single vacant lot and quite a few "marginal" businesses the developers could get their hands on have been turned into massive luxury condo/apartment complexes. So much so the city is telling my landlord he isn't charging "market rates" and needs to increase the rent, and taxes he pays, due to all the high-rent places that went up in the last couple years -- luckily he doesn't agree so...