I'm not even sure a lot of folks are waiting for anything. There's a major shifting demographic with more people not having kids at all, getting married later...I think way more people are now just happy to rent perpetually and not deal with any of the burden that can come with a house. There are plenty of markets where home values are outpacing rent by quite a large margin. Best to research if you are on the fence and moving to a new city. https://www.forbes.com/advisor/mortgages/states-with-highest-rent-hikes/ I don't know if this is still the case, but there was a big difference between home and a condo values after Covid. A lot of people wanted yards and what not so condos could be had for pretty cheap (comparatively). edit: looks like condos came back big time. At least here in Chicago. https://www.chicagobusiness.com/residential-real-estate/chicago-condo-comeback-led-fall-housing-market