Residential real estate is tight because there are few regional spreads to execute. Sell yours and buy a scaled down market. More supply is needed but zoning across the county makes it nearly impossible to modify current permitted uses. Add to that the world is long equities and would seemingly like to buy more. The S&P 500 is a tech index now and the latest story is AI. There will never be enough stock in these companies apparently and nothing on the horizon to take us out, apparently.
So, the pros know the thing which will hurt us all is the thing we cannot see. Being on the sidelines will have to be a long term strategy if you are a bear.