10/10/2026
What if one of the biggest reasons home prices exploded… wasn’t COVID? AKA Covid Sugar High.
COVID and historically low interest rates absolutely poured gasoline on the fire.
But the fire was already there.
Millennials are a massive generation, and for years, many of them wanted to buy homes but weren’t financially ready or able to qualify.
That demand didn’t disappear.
It waited.
Then rates dropped, buying power jumped, and a huge wave of buyers who had been sitting on the sidelines suddenly had an opportunity to move.
And they did.
All at once.
That’s the part of the housing-price conversation we don’t talk about enough: real estate isn’t just economics. It’s demographics.
Understanding what happened matters—because if we’re going to make smart decisions about where housing goes next, we need to understand what actually got us here.
🎥 Rob breaks it down in this clip from our October Boise’s Best Real Estate podcast.