Can someone explain why all asset prices are so high… and why they aren’t coming down?

I do not want to sound like a broken record talking about bubble this and that, but it is just mind blowing how asset prices are just this high and aren’t coming down it seems.

the s&p’s P/e ratio is 32, but has a forward PE of 23 and shiller PE of almost 42, all of which are, with varying degrees, higher than historical averages. Things are just pumping though with no signs of slowing down. as someone who is 26, it feels like that usually means lower future returns.

Gold also ripped recently and even though it has come back down a bit recently, it is still up significantly over the last 5 years, almost doubling the s&p500. I know, this is how assets work, but the level in which they have been increasing seems extreme.

Housing prices have also gone up a lot as well but i know it has been closer to inflation’s rate. at the same time though, interest rates going from 3 to 7 percent has made housing even more unaffordable.

I know the dollar has been devalued, even as someone who does invest, it just feels like i am behind trying to catch up to these high asset prices in my city and in the world as a whole.