1. Housing laws (restricting housing supply to increase [SF])<p>2. Interest rates (when they are low) promotes more ownership<p>3. Federal&#x2F; State intervention : Promoting more people to own homes even if they can&#x27;t afford to (or their job is high risk).<p>4. Low unemployment<p>5. Fannie Mae &amp; Freddie Mac artificially propping housing prices by not releasing the million + mortgages they have on their books.<p>6. Terrible software that depends on humans being able to understand what prices should be for a home, while using antiquated ideas as to what a home price should be given &quot;comps&quot; and not supply of housing.<p>7. There are so many factors that if you&#x27;re truly interested... Read a book called Housing Boom &amp; Bust by Thomas Sowell. :)