Why are housing prices so high in many major cities right now?

Housing prices are really high in big cities because not enough people can live there, but lots want to.

Imagine you're trying to get into a super fun playground, but only 10 kids can fit inside at the same time. However, 50 kids show up wanting to play. That means the ones who get in might have to pay more to be there, just like how housing prices go up when many people want to live somewhere, but not enough homes are available.

There aren’t enough houses being built fast enough. Think of it like baking cookies, if you need 100 cookies for a party and only make 20, the ones you have will be extra special (and maybe cost more).

Big cities have lots of jobs, good schools, and fun places to hang out, so people move there from other places. It's like everyone wants to join that cool playground.

So when not enough homes are built but many people want them, housing prices go up, it's just like the kids who get into the playground paying more to be there!