Don’t apply extraneous factors on it. It is simpler and easier to understand than it may seem.
I disagree, where I live there are many new units being built problem is they are extremely expensive and some building
Clarity of understanding yields clarity of thought.
This isn’t a bubble falsely created by external factors. It is a natural market phenomenon.
Supply is down, demand is up...and qualified buyers have more resources to apply than they have had in nearly 20 years. Add in exceptionally low interest rates for borrowing money and the explanation becomes clear.
Occam’s Razor...the simplest explanation is usually the correct one.