> One thing I don't understand is why housing prices are not falling. 1. There is still lots of money out there. Unfortunately for Jerome, getting it out is wa

> One thing I don't understand is why housing prices are not falling. 1. There is still lots of money out there. Unfortunately for Jerome, getting it out is way harder than pumping it. It might take years. 2. Lots of people are locked in low fixed-rates mortgages that they'd exit if they can refinance at the same rate. This makes the market non-liquid and keeps the prices artificially high even though the volume are down. > When you are a landlord and the home doesn't rent, my first instinct would be to lower the price until people start showing up, yet this doesn't appear to be happening. Most people in the US use a rental agency. These are greedy and sneaky people. That being said, rents are down in most of the US. The market is correcting but it came from a very high place.