Hit by the brick-and-mortar meltdown years ago, it attracted short sellers, which attracted meme stock traders, which blew up the short sellers, and then each other.

The Most Splendid Housing Bubbles in America, June Update: “Deceleration” and “Tipping Point” of the Raging Mania

by Wolf Richter • Jun 28, 2022

But it still predates the 5% & 6% holy-moly mortgage rates, whose impact on prices we’ll only see in a few months.