I wouldn’t consider it rich, but being able to buy multiple properties and renting out the previous ones definitely would fall under that

I hope I'm wrong too, but as someone who bought their house in 2020 and has a 2.25% 30yr fixed rate I would absolutely buy up another house if it ever crashed and rent out the one I have.

I only put 10% down and my mortgage is $1570 with the $70 a month PMI falling off soon. Rent comps in my area are $2300-2500 for my property. There's no reason for me to ever sell it and I know multiple people in the same boat that would do the same thing.

It's unfortunate, but the rich get richer and everyone else gets left behind.

They're never going back down that far. Houses in essence are meant to be anti inflationary so when there's large inflation the house prices will go down slightly and stay flat at best. The only reason 08 happened was because like 90% of people had ARM's and weren't thoroughly vetted on their sources of income. This is different.

What I have been seeing is a decrease in inventory of homes for sale and a drastic increase in homes for rent. Why would anyone give up those sweet low mortgage rates at a way lower price than what they want?