House prices are usually tied to income levels by 3x income. This is about what people can afford if it drive past this you have a bubble. https://www.longtermtrends.net/home-price-median-annual-inco... Look at where we are now.

Housing is a decent hedge against inflation but not the great investment make it out to be unless you’re a landlord. The truth is there is a lot of upkeep and if housing prices rise you will have to pay the same as your sale when you sell. It’s great if you’re downsizing, or moving from an expensive city to a rural spot, but if you’re just changing locales you have to eat the transaction cost.