Owning your own home

I think the government is using housing to make the economy look good, and once the election is over, interest rates will be up

This is definitely true

things will start going backwards again.

I imagine this they cannot predict. Perhaps it will just slow to a halt for a while. I guess one of the drivers of the current fear / panic is that it will continue to rise another x% before it goes backwards so you'll still be left out.