^This.

2008 was a housing crisis created by the policies of the Democrats. Those policies were to give no-down payment loans to minorities so they could move into fancy houses. The mortgage industry cooperated by selling variable rate mortgages to these people.

People were moving into 300K homes putting down 2000 dollars and paying 2000 dollars in costs. Then they had 1000/month mortgages.

Come back in three years and these people have maybe 10,000 in equity, their mortgage is now bumped up to 1600/month and the value of their house is now 200K. They made a logical decision to lose 10K and walk away to an expensive house they couldn't really afford.

2020. Joe Biden and The Democrats printed 3 Trillion dollars and spent it during a lockdown (meaning there was no goods or services being produced by the economy). This caused inflation.

Housing prices are not relative to the amount of money in the system. The end. Not coming down.

This is the 1970's inflation, not 2008