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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Bonnie Kristian

Bonnie Kristian was a deputy editor and acting editor-in-chief of TheWeek.com. She is a columnist at Christianity Today and author of Untrustworthy: The Knowledge Crisis Breaking Our Brains, Polluting Our Politics, and Corrupting Christian Community (forthcoming 2022) and A Flexible Faith: Rethinking What It Means to Follow Jesus Today (2018). Her writing has also appeared at Time Magazine, CNN, USA Today, Newsweek, the Los Angeles Times, and The American Conservative, among other outlets.