Honestly, I don't really get where this stereotype of all people moving to the countryside is coming from. I mean, yeah a lot of rural suburbs are growing, but that's the point. They're rural suburbs. Most peple still aren't moving to the middle of nowhere or small towns because they still want the convenience of city life without the city problems. And even then, Cities are still growing too, just not as fast.

Now having said that, this isn't going to be a repeat of 07-08. Pretty much everything is different here. The main underlying cause of 07-08 involved subprime mortgages, which are essentially impossible to get post great recession. This is entirely different. This has nothing to do with people being underwater on their mortgages. Rather, this is about the entire global economic stystem collapsing in on itself. This is just one of many signs it's about to happen. People aren't able to afford to buy a new house with the price of EVERYTHING on the rise. So it's more reasonable to stay where they are or rent and keep their basic budget higher rather than buy a new house and have a lower basic budget.

Like I said, this is just one thing. You can also look at metal prices, the cost of fertilizer, basic food prices like wheat and grains, etc. etc. This is different from 07-08. I honestly have no idea what will happen. Normally real estate will go up in value when there's fear of an economic downturn since it's considered an uncorrelated "safe" asset. But this time there's so much different from essentially every other example, that it's hard to say what will happen. Prices might go up, they might go down, they may remain stable. There's just too many wild card factors to say for certain this time around.

Pretty much the only thing you can be certain of, is that the Fed and other central banks are on lifesupport, and this is their dying breath before they finally go back down to hell.