I just don’t see this resolving itself quickly without additional firms entering the market with significant capacity.
When the conditions are low inventory and low interest rates, the market is going to get over heated. Now if interest rates go up then I think this bubble is going to burst again. I don’t see it that much differently as what happened in 07-08. Just this time, instead of buying mortgage backed securities, the big boys are buying the actual homes instead.
Even with the housing market the way it is, still probably a better time to buy than during the late 80’s with interest rates of 18%
The big difference is in 08, fed govt was forcing lenders to do loans they otherwise wouldn't have done to folks who couldn't possibly pay em. Also, the bundling last made the burst way worse.