"In the last decade, Boston had the biggest population growth of all US cities included in this study, thanks to robust economic growth, a highly educated work force, and good job prospects, particularly in technology and the life sciences. This increased demand for property fueled prices, which rose by more than 3% per year following the start of the boom in 2012. Despite some temporary market weakness during the pandemic—rents hit a 5-year-low in the first quarter of 2021—housing demand remains strong. Over the last four quarters, sales activity has reached the highest level in more than 15 years, and price growth has accelerated to 6%. The economic rebound, combined with high local venture capital investments, should support higher prices in the coming quarters" --UBS Group

In 2017, I wrote this article "Are We in a Bubble Now?" about the Greater Boston real estate market and re-published it in 2019. Since 2015, many buyers have been asking the same questions consistently every year. Most run along the lines of, "are we at the peak " or "is the market over-valued," etc. Lurking behind these fears were concerns about the recessions. So in 2019, I have also published the articles "Recession Obsession" and "Is it Good to Buy Boston Real Estate Now." Since then we have experienced Covid, followed by one of the strongest market bouncebacks the Greater Boston market has ever seen, and consistent growth in most areas. 

As I re-read these articles, it's interesting to me that a lot of these ideas still apply today (in November 2021 when I'm writing this). No one has the crystal ball about the future. We can't presume that history will necessarily repeat itself, and prices are indeed once again at an all time high. What we can do is evaluate based on our needs and opportunity costs and make informed decisions based on data. There will be some properties that are worth buying, and some that are not, and owner occupants often use different calculations than investor buyers. It's never a simple story or formula, but many calculations involving thorough analysis behind someone's financial picture. But in my opinion, prices are likely to grow if demand continues to outpace the supply, and many hot markets still experience frequent multiple offer sitations.
Check out my article Is It Better to Buy or Rent in the Greater Boston Area.