When housing prices are at an all time high, it may seem like it's because sellers are greedy and unwilling to lower their price. Sure, if you're a seller you want to get top dollar for your home, but its not greediness at play -- it's economics 101: supply and demand.
The Silicon Valley housing market has been grappling with a shortage of available homes for years, resulting in a highly competitive environment for homebuyers. The imbalance between housing supply and demand has been a significant driver behind skyrocketing prices and an increasingly unaffordable market - even when interest rates were at an all time low.
3 reasons why