Does The U.S. Housing Market Have An “End Game?”

It doesn’t really seem like it does.

The Wall Street Journal cranks out any number of print + digital articles in a given day, to the point that remembering any specific article from that publication is a fool’s errand. Despite that, I always remember this one specific article from WSJ, from way back in November 2019. It seemed to encapsulate the entire issue of the U.S. housing market — and this was written five or six months before COVID even hit our shores.

It asks, poetically: “OK Boomer, who’s going to buy your 21 million homes?”

OK Boomer, Who's Going to Buy Your 21 Million Homes?

I watched this video a few days ago and it underscored some of the same points:

Essentially, I think we know a few different “truths,” including:

1. Home prices continue to soar.