Wait, we are in the aftermath of a recession? From where I am standing we are in the thick of it with a long road ahead of very uncomfortable economic pressures restricting personal upward mobility. What person is looking at a 20% increase in living costs, high interest rates, and houses that were priced for low interest and more money in people's pockets?

Reality is people can't afford the pre-recession prices, so they will rent and ride it out for a while longer which will put downward pressure on people trying to sell and the market will meet the demand that way.