Couldn't agree more 'ThinkRightGM'. We've all watched governments panic and try to correct a situation 'years' after the horse had left the barn. Bidding wars and skyrocketing prices have been part 'of our daily bread for more than 14 years!

Borrowing  James Carville's it's "The economy, stupid", all I can say its low-interest rates stupid!
Should mortgage rates increase quickly - not a likely scenario - by 3 to 5 percent, the bidding wars come to a complete stop, sellers panic and prices plummet.