My business does some work for home slelers. Some didn't sell all last year and don't expect to this year so they have moved renters in. With the tailwind of current record low mortgage rates behind them, if they haven't reversed the decline by now they likely never will. (in real terms, at least) However, since their mortgages are in nominal dollars, eventually inflation may cause home prices to eventually rise again above the level of their mortgage balances and they can sell the homes. But counter-acting that is the fact that with inflation will come higher mortgage interest rates, which will itself exert downward pressure on home prices. Simply returning to historical average rates would probably halve the price of the home one could afford.I wouldn't look for any good news on this front for many many years.
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