In some markets, prices exploded as people moved up too quickly into ever more expensive housing. Housing inflation was further exacerbated by “smart growth” policies, which limited new home construction in suburban areas and instead promoted dense, “transit oriented” housing with limited market appeal and economic logic.But looking ahead, this is interesting--millenials like the suburbs even more than their Boomer parents. Well, I haven't seen it yet but it's early days.
And the market probably hasn't bottomed out yet. Since we have President Brilliant in charge.