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High demand and low supply means high price. This is the reality in every market I have first or second hand (relatives) experience with.
Eastern Pennsylvania
Florida
Michigan
Indiana
Single family housing construction was underbuilt coming out of the GFC, and demand has finally taken the slack out of the system. Low interest rates and strong demand mean prices will be high for the foreseeable future. There is no debt bubble at the moment, so I don't see a crash coming soon.
New construction isn't a free lunch either. Lumber prices are high and contractor/tradesmen are busy.
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