The 'Rising Wedge' is fairly reliable technical analysis chart pattern, particularly when the price rises on ever lower volume.
Every month the U.S. housing numbers reflect rising prices with a lack of sellers. Inventories down.
Why no sellers?.......... Are the survivors of the last crash holding on. What do they do if prices start to fall?
How will higher interest rates affect the buyers? Wages continue under pressure in the U.S. Can new buyers afford higher interest payments or higher down payments?
Will a strong dollar temper foreign demand?
What do the bank balance sheets look like with respect to housing loans?
As global warming continues to create extreme weather events it may be the seed of the next worldwide hyper-inflation as countries spend to remediate the destructive events and as industry and food production is impacted and as economies are 'stimulated' to avoid debt defaults.