Has anyone else paid attention to Housing prices? Wow

Interest rates are already starting to creep up.
Pricing of homes is going up due to two reasons, in my opinion.
Labor is very difficult to find.
Material costs have increased by 40-100%.

Just those two factors are driving the prices of homes up. I know there are other factors but those are the two biggest items.

This lock down has caused the material increase. The companies that make the products had their labor force's cut in half or even worse and they can't keep up with demand. so instead of keeping up with demand, they raise the prices so that less people buy the products but the corporation still makes the same profits, or close to them anyway.

Where I am at there are no extra homes. We have not had an influx that caused an excess of homes. Literally every nook and cranny has a person in it already.

I sold a spec home in june 2020. It is being purchased by another party already. The price has increased and the folks that purchased from me are selling the home for more in less than a year.

I believe this bubble will pop. However I hope I am wrong.