In recent months, my two daughters have given me a personal perspective on just how hot and how competitive the real estate market is right now. Both decided to buy homes in the Kansas City area, and both had to make unsuccessful bids on multiple houses before they were able to close on their new homes. That millions of families all over the country are trying to navigate these same issues is quite a turnaround from just a decade ago, when folks were hesitant to buy houses in the shadow of the Great Recession.

However, as we discuss on today's show, many economic factors that caused the housing market to collapse in 2008-2009 are contributing to the current housing boom. That doesn't mean we're headed for another bubble burst, but it does mean that folks need to weigh all their options if they're looking to buy or sell right now, especially if you're eying a potential retirement home.