Of course, no one has a friggin clue. Let's see: currency debasement is a big cause, stagnant wages with wage arbitrage. Then we have (((hedge funds))) buying up real estate using cheap capital. Next we have autocrats importing illegal aliens and giving away housing stock using taxpayer funds. Oh, did I mention Chinese capital buying up domestic housing while leaving the housing empty? Other than that, I can't think of why real estate prices are so high.