The chart you’re posting ends in 2007 at the height of the housing bubble. Housing prices already corrected from this reference point 15 years ago. Given the v

The chart you’re posting ends in 2007 at the height of the housing bubble. Housing prices already corrected from this reference point 15 years ago. Given the vast supply-demand mismatch, housing today is generationally underpriced. The simple fact of the matter is that new home construction plummeted after the GFC to levels not seems since the 1930s and it has never recovered. We’ve spent a decade drastically underbuilding housing, while enshrining NIMBY policies making it near impossible to ever pick even get back to pace let alone make up for lost time. Against that we have the largest generation in history aging into prime home buying age.