It will be owned by the ultra-rich that can afford (for a time) the rise in property tax.  

If you DOM go from 20 to 40 that's double but still a ultra hot hot market.So why would you sell your home now?

Collecting rents is more of a challenge on the east side, unless you get into the ultra high property value suburbs.

I saw some purple Ultras and thought “how in the world can they do this twice?!!”

I don't dress that way or have a ultra fancy car because that's not who I am and don't feel like I need it.

Retirees who simply want ultra safe investments with predictable returns so they can collect a check each month.5.

Those who have wealth often take less risk with their capital after they've accumulated a lot and look to preserve what they've accumulated by investing in low cap ultra safe investments.

And those that could afford it got a house those that could not had to rent at ultra high prices.Cheap  money makes it hard for asset prices to stay low.

Because of ultra cheap debt, real estate prices have increased much higher than wages since then.

construction stops trades move.. vacancy occurs.. also i can see renters especially millennials who are really finally getting it that renting is throwing money away and with the ultra low rates home sales stay robust.