[Rain Man]

I think what we're concluding is that housing prices are spiking everywhere for a combination of reasons.

Low interest rates certainly play a part in that. Delayed demand plays a part as millennials didn't move into the market on a predictable basis and are now starting to catch up. Millennials are a big new population of buyers. Some people may have more cash due to stimulus stuff, though that's probably not significant. And I think there's still a lingering shortage of housing dating all the way back from the 2009-2010 recession. Investment funds are screwing over the American Dream by buying houses over what real people can pay. AirBnB corporations are buying houses so they can be fake hotels without paying taxes. Combine them all and you get this.