America's wild housing market has everybody guessing

Inventory has cratered. Prices are spiking. Buyers' tactics are getting weird. Is a bust inevitable?

A house on a bubble.
(Image credit: Illustrated | iStock)

The American housing market is wild right now. Just how wild is difficult to explain if you haven't recently attempted to buy or sell a house.

I have — my family has a long-planned move coming up soon. When we bought our home in 2014, the previous owners had been trying to sell it for multiple years. Ours was the only offer, and we ended up 15 percent below the asking price.

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