The home values per Zillow's economist stated that home values since 2020 went up across the board 38%.

That being said, I'm no professional economist.

Generally speaking, when the legendary investor Warren Buffet picks stocks to invest in, he does so by analyzing the business itself and treads lightly when listening to economists.

Red States tend to have much more affordable housing than Blue States, I believe.The real problem is that Wages have effectively been stagnating over decades while Shelter has steadily increased for both Ownership and Rent.Where there are much larger population, there is a change towards renting rather than owning because the most recent TWO generations actually cannot afford to purchase a home.That lead to a huge increase in Renters.With the YUGE increase in Renters, naturally, there will be a push to enact laws that are biased for Renters... at least seemingly biased (we know that virtually all Economists predict that Rent Regulations will inevitably cause the remaining market apt rents to rise as well as a extreme time frames to get a rent regulated apt which can be as much as 30 years).My guess is that if Red States start shifting towards renters from Home Ownership in general, over time, they will begin the process of implementing some sort of rent regulations eventually.SO.... my thoughts, which can be wrong, I admit, is that once the population of renters reach a high majority over home owners AND there is a significant shortage of affordable renting options, rent regulations is inevitable.The only way rent regulations will not happen is if there is either no short supply of apts for the large demands of renters.So is it Red versus Blue or is it Renters versus Landlords?

Inventory for Austin and the metro area remained unchanged from June at 3.9 months and 3.7 months of inventory respectively.Clare Losey, housing economist for ABoR, made this comment:“With a rise in pending sales and closed sales remaining consistent, this further indicates that buyers are becoming more accustomed to the higher interest rate environment and understand that elevated mortgage rates may continue.

Long term effect NO - reality sets in and people realize all those crappy part time stadium jobs don’t actually make a difference.)Bottom line:  economists are in widespread agreement that sports teams do not have a noticeable positive effect on local economies.

https://www.nar.realtor/magazine/real-estate-news/economy/nar-economist-housing-recession-is-over?

No one, not the FED, not university and bank economists, and not even contributors to Forbes can accurately predict how long this thing will play out. 

For some really top notch economic analysis of restrictive housing policies making housing less affordable, look at the work of Harvard economist Ed Glasier.

We've partnered with ITR several times as their economists always provide extremely up-to-date forecasts.