So explain this to me.  Everyone thinks there is a mania.  But nobody wants to sell their house.  

Ultimately that is what solves all these artificial demand/supply imbalances - owners stop hording and all head for the exits at the same time.  

Question is when.  I still own my house.  But the kids are all grown up and I do wonder sometimes.  But gotta live somewhere and moving is a pain in the a$$ and then there are all those costs - transfer taxes, real estate agent fees, new furniture, curtains, carpets, moving.  Is it worth it?  So far, no.