It's just funneling money from the "I accept I'm poor, I'll rent forever" to the "I'm poor but in denial, I'll pretend to be an owner"

Facilitated by shark brokers.

Long term the bubble bursts because society isn't increasing in the middle class that can weather the lows. Creating a small group of wealthy, extracting from a stagnant society where the masses consumers themselves need stimulating.

Australia is an example. Interest rates at almost zero pushing property prices up but the renters don't have job security. Every economist sees that as a bubble that will burst.

Feeding on renters in this current world is not a clever system.