One of the things that I share with my new real estate clients is what actually happened to cause the bubble of 2008 in the first place. Simply put, the construction boom of the early 2000s created way more houses than actual people to live in them. There were thousands of vacant homes which eventually led home and rent prices to decline over a 2 year period of time. At this time new construction dried up and only a few of the builders actually survived the years that followed the peak of the market in 2007. 

As you can see below, from 2000-2010 housing grew faster than our population growth which led to the excess inventory. Since 2010 our population has continued to grow by double the amount of housing growth. Construction has been lagging population growth which has now led to significantly less homes available than people who want to purchase them. It’s in the environment where supply is less than demand that prices continue to rise.