Some of the unemployment shift is likely to come from the real estate market (banks, brokers, realtors); with as many closings as happened during the boom times of free money, we should expect normal times to require less staff and be less profitable.

Totally depends on your market. I have plenty of buyers and sellers where I work. Spoke to a designated broker this morning in the largest urban market in my state who said overall his office is down significantly, but his top producers are all doing fine still. Holding on to that low rate is stopping some sellers, but sooner or later life events catch up with everyone.

Yet prices continue to increase. Hopefully, this is how prices decrease and houses become primarily for living instead of investing.

You should do a cost comparison between buying a house between 2008-2020 and now. Selling your house would lead to a massive increase in living expenses. It would need to be truly desperate.

We’re looking and can’t find something that lasts more than two weeks. It’s going to take something drastic to drop those prices since they’re still going up and hopefully it’s before I end up buying a new place.