Nuts
My neighbor's house was purchased 1 year after mine for about what my house had listed for (but I negotiated down on it). They divorced and sold this year; went for >$200k more than just 6 yrs ago.
And, apparently the inside wasn't terribly well kept up, as the new folks had flooring redone, and just got all new appliances this weekend; the older appliances that were being dragged out were definitely "not a selling point"....
A correction is most certainly on the horizon, as I don't see how these prices are sustainable.
The other thing I tend to notice around here, is that in the neighborhoods of $0.5M to $1M priced homes, people drive Subarus and Hondas and Toyotas (a few Teslas).
When you go to the "apartments" and $200-300k houses, you see folks with the tripped out trucks and Mercedes/Lexus/BMWs. Sure, those are around here, too, but many of the folks in the high-end houses seem to spend a lot less on their cars....and have a lot more invested in their properties....