Why Do Housing Bubbles Burst?

An old joke is that expansions don't die, they're murdered by the Federal Reserve. So I really think that the bubble ends because the Fed jacks up interest rates here in this country. They can end because they get so far out of control that there's nobody else to buy a home anymore. But in the US, the timing is almost perfectly coincidental with an inverted yield curve caused by the Fed's decision to raise short-term rates very rapidly.