US home prices haven't increased by 100% in 7 years. On a national basis, the Case-Shiller index has only increased by 65% (nominal dollars, not inflation adjusted).

https://fred.stlouisfed.org/series/CSUSHPINSA

In the short term, the difference in mortgage interest rates between prime versus subprime loans can have a major impact on borrower cashflow and the type of property they can afford.