The price of debt was steadily and constantly declining from the late 1980s until the end of Covid. That naturally drove up real estate prices. That paradigm is now over. Interest rates cannot rise a lot without triggering collapse of the fiat system, nor can they go much lower without triggering crippling inflation which could in turn collapse the fiat system also. The end of fiat monetary easing and 'Greenspans put' has arrived. Real estate prices will stagnate for the foreseeable future, if not decline. This is not widely voiced, but widely understood by those who are quietly exiting the fiat debt leverage real estate bubble.