I wonder if investors are about to get burned on this. The assumption is you can extort rent out of people in nice neighborhoods. but, a lot of jobs are going remote, so won't people just leave a go more rural where prices are a lot more budget friendly?
Investors do not get burned, they are now are confident that the federal reserve will not allow asset (read: housing) prices to go down.
In the event that prices do go down, then they will be bailed out in some form or fashion.