I am also hoping for a bubble pop but unfortunately I do not think it will come, at least not in the same way that it did back in 08. Sure the rate at which prices have increasing will have to stop but it doesn't mean that prices are going to crash.

The 08 bubble was mostly driven by the subprime loans being given out and interests were not as low as what we had for the past few years. That means that when prices decreased people were quickly underwater with big loans that they were already too stretched to pay. So as people got foreclosed or had to sell supply increased as demand decreased since it became an overall economy crash and people and institutions were not buying as much.

But the run up on prices during COVID is not subprime. It is mostly people that could afford it or just went a bit over budget but given the low interest rate a modest decrease in price will not be a problem for them. Unless we have a massive wave of layoffs and people cannot pay anymore we will not have the same level of foreclosures that drove prices down las time. Also, this time so many houses were bought by big corporations as investments so they will not default the same way an idividual might.

We are seeing layoffs but they seem to be concentrated in the tech sector so on higher-paid individuals so even if we see some foreclosures they are going to be in the upper range of the market. So unless the whole economy collapses I don't think we will have a drastic bubble pop.