Same in the UK - https://www.theweek.co.uk/london-house-prices https://www.theweek.co.uk/london-house-prices I think it’s a combination of not enough available

Same in the UK - https://www.theweek.co.uk/london-house-prices https://www.theweek.co.uk/london-house-prices I think it’s a combination of not enough available housing (and pandemic increasing costs for building new homes), fall in the value of the denominator due to central bank action, and people moving often having lots of equity in their existing home they shift to the new one so the increase in mortgage size isn’t huge. There won’t be a big crash (unless we see a deep recession with rising unemployment and defaults) but central bank tightening and raising rates will definitely curb house price growth in the next couple of years.