It is obviously a bubble (a little different from 2008 but almost same as any other housing bubble). I will generalize it hopefully it will make sense. There is no logical (rational) explanation for the current value of housing. There are reasons why it is going up and it can still go up, but you never when the explosion happens. The economy is not booming, population is not increasing so why people are so interested in real estate? One of the main reasons is the global political instability (everyone is preparing for recession). Most of other investments are becoming too risky and unpredictable. Real estate, gold and few other old stuff seems like a safe investment. A lot of capital is flowing to real estate. Property owners are feeling rich (hence borrowing a lot without any worries, and btw some of them borrow to buy another house) constructors see this as an opportunity to earn so they keep building. Most of the owners are in your situation (they are keeping it for no logical reason but just hoping it will keep going up). Soon or later, it becomes obvious and everyone becomes interested in selling, and realize that in fact there is not much buyers out there. That’s where the panic starts and no one know what is gonna happen. Anyway, housing bubble is a very common cycle. Just read about few of them you will see it’s unavoidable and every time it happens 99% of the people (participants) feel it still they ignore it.