>US consumer debt it ratcheting up very quickly

Maybe this will push prices down over time. I suspect its impact will be limited due to landlords, especially corporate ones. I don't think they have many incentives to sell their property.

I'm taking out of my ass a bit, because I don't know how much of the US, or NH housing marking its controlled by mom-and-pop landlords, or corporate landlords.

My biggest hope is that high prices incentivize builders to produce more housing, assuming NIMBYs can get out of the way.