I'm not an economist and don't claim to understand what's happening, but what I do know is that I considered entering the market before the pandemic but abstain

I'm not an economist and don't claim to understand what's happening, but what I do know is that I considered entering the market before the pandemic but abstained because I felt the prices were inflated by all this "free money" from cheap loans, and I was competing with people who seemed to have no limit on what they wanted to pay. Then, the prices went up by more than 20% during one year, a period where most economies stalled and went into recession. I'm not touching this with a ten foot pole, I don't care if I have to rent for decades. I'll spend my money on something else in the meantime.