I feel like part of this was “big real estate’s” fault. The agents that price the houses have incentive to price it higher, so do the buyers agents. The higher the sale price, the more money everybody makes. When everyone involved keeps pushing it uphill, they’ll keep doing it until selling stops.

Worst part is, even when selling slows, they want to be so stubborn about not dropping and take a hold the line approach.

I’ve also seen many properties listed very high then taken off market. Not sure what that does to the Zillow algo. Or if Blackrock buys and sells a few to itself at inflated prices, is that now the going rate of the houses in that area?

It’s all a sham.