There's no need: Stubbornly high inflation due to loose monetary policy (which is the largest contributor into asset overvaluations; including housing) is forci

There's no need: Stubbornly high inflation due to loose monetary policy (which is the largest contributor into asset overvaluations; including housing) is forcing central banks to raise rates. Higher interest rates means buyers can afford to offer less, causing property prices to fall. Home prices in Auckland is already down 10-20% and the RBNZ is continuing to hike. The same is happening in Canada, and if you check Zillow's latest report, it's happening in America too although likely to be more muted (i.e. take longer) due to the US's fairly unique 30-year fixed rates and people's 3 month interest rate locks expiring. Just give it another year or two, the housing bubble will have sorted itself thanks to normal levels of interest rates.