Inflation (especially asset inflation) is as much expectations about future price rises as it is anything else. If investors expect to a vast expansion of housing stock in 3 years, they'll start exiting the market today, to get ahead of it.
Also, investors won't start exiting the market if they expect expansion in housing stock. Financial markets trend, they absorb information imperfectly, they overreact, and there is massive volatility as all this occurs. Indeed, there are some investors who base their investment strategy on the inability of markets to react to capital cycles (Marathon Asset Management have written books about this). Investors have different time scales, if the housing stock was going to expand then you would see capital pile into the sectors because people will chase that growth expecting to flip at a higher price at the top.