Actually, it’s already on the way to being fixed the old fashioned way - with a market crash. Inventory is rising, volume is dropping, and while prices are going up - that is pretty common as the market starts to grind to a halt.

[https://www.redfin.com/state/California/housing-market]

When the line keeps going up and to the right, everyone builds that into their spreadsheets and times are good.

When the line starts going down and to the right, they hope it’s temporary. But after awhile, they need to update their spreadsheets - and then times are bad.

As long as the fed keeps rates high, the crash is inevitable. I give it another year or two.

Bankruptcies are likely to be incredibly painful.