This video goes into the lumber shortage and it's insane. Lumber prices are insane and that's contributing to the housing prices:
Leading up to 2021, the U.S. median home price was $340,000.1 Keep in mind, median price is a benchmark that tells us half sold for more and half sold for less than that amount. Median prices are usually a better way to look at housing price trends (unless you’re buying a mansion on a private island) because average prices can be super exaggerated by a small share of high-end transactions.
Every realtor I've spoken to expects to see the housing prices rise due to demand, but I don't think the demand will last. Sooner or later those mortgage forbearances will expire and people won't be able to afford their homes. The housing market will then be flooded and banks will further limit who can borrow. Then we'll see a worse housing crash than 2008.
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