Yes, there are a lot of people who spend less than they make and have a surplus.There are others who are inheriting wealth from othersBut there is another subset that we often forget: those who have equity in their homes.Much of the equity has built up due to a runup in home values since 2020, which allows these people to use a HELOC to purchase a home for cash.When rates were low there was a group of people who were using Hard money to purchase and rehab buildings and then refinancing at the end this was the BRRR strategy.Hard Money is not an option these days since the cost of refinancing at the end of the project is too expensive.So when we see people paying cash, it is often pent-up savings and HELOC money that people use, and not as often Hard Money.

No need to take out all your pent up frustration on your keyboard."

Now the Panama Canal drought is not allowing as many shipments to come thru to the East cost.Steel prices are not dropping like the oil and lumber in previous charts due to both transportation issues, China taking longer to open up after Covid and Port Unions on strike or slow downs.There is pent up demand for steel thus it will not drop as fast.  

     - With Developer/Builders knowing the standing of market and throttling production to avoid a glut, stimulus would impact supply shortages and in such pricing, in proportion to market supply standings and pent up demand standings. - Mindset's conditioned in a kind of FOMO position from covid bull-run, a stimulus action that present's a buyer surge, and a sold price surge, may be the spark for a real tangible bubble creation appreciation frenzy as those act upon FOMO to "grab the profit's" or "get in before it's too late", ignoring market basis fundamental's, thus in a feed-back-loop of rapid appreciation, ie "bubble". - I do not see risk in seller finance side of things as i don't see potentiality of mortgage rates dropping below 6% in any enduring manner.

Starting to see a lot of pent up demand that will likely boom when rates finally come down

Low inventory and pent up demand are keeping prices higher (and still rising), even in a higher than previous (but historically average) interest rate environment. 

(Right now, EVERYTHING is booked solid due to peak season and pent up demand, but that is not always the case). 

The center has an extra 20 acres of greenfield zoned for additional retail.We know there is pent up leasing demand, but not sure what is current development costs as we haven’t built a thing since before Covid.Anyone can shed a light as to what is the current per square foot average these days?

There is a pent up demand coming out of the covid backlog.  

I am bullish on my city and believe there is pent up demand.