cross-posted from: https://lemmy.world/post/3560407
Considering how crazy expensive accommodations have become the last couple of years, concentrated in the hands of greedy corporations, landlords and how little politicians seem to care about this problem, do you think we will ever experience a real estate market crash that would bring those exorbitant prices back to Earth?
Pretty sure risky owning means higher rent prices
Ok, so the rent goes up by 500, what happens next? The demand is somewhat elastic, so it shrinks, there will be more vacancies which will become deadly to property renters who might prefer to exit the business.
The other thing is that rent is already controlled in many places, so the landlords can’t actually increase it.