[aigel]

1) Home is where most people now spend the majority of their time, so it has become more important to have a nice place including home office. People don't even seem to think about time after CV when they will go to work every day, can be on vacation, visit friends, go hang out in town etc. to make up for a sub par living situation.

2) Rates are at record lows.

3) People have a lot of money available from the stock market and are moving some of it into tangible assets. There is definite fear of inflation with trillions pumped into the economy. Most every tangible asset has increased in price very significantly recently. Have you tried to buy a classic car - say some no brainier model like a classic 911, or a Type E Jag? How about guns? Gold?

4) A lot of wealth is being passed down to the next generation. Either as support (gifts) or as inheritance. When the millennials start a family the well to do boomer grandparents will be happy to help with a down payment or go in on a purchase.

5) This is now like toilet paper was in spring. People hear about a rush to something and the FOMO sets in. Everyone who hasn't thought about buying a house suddenly is.