Personally I think it has more to do with what is happening over seas than here in the US. We live in a global economy so when inflation happens in say China it affects us here. My question for everybody out there is “is the housing market a free market economy?” I think not! With big government intervention. As an aside suppose rents go up with inflation, free market would imply there would be fewer renters, price up demand down, but the reality is quite different. When rents go up it is harder for people to save the down payment needed to buy a house and hence they are stuck in a vicious cycle of renting.
