A collapse means house prices fall which means rents should fall. I’m not saying you are necessarily wrong, but it seems like a few steps are missing to get from A to B.
No, a collapse can happen when no business is being done in the sector, but demand still grows. In the case, there were no real estate transactions or building. However, demand grew. When the economy returned, there was far less housing than demand, driving prices up.
It’s not a problem of there not being enough homes for everyone, it’s that the vacant homes are not being made available to people who want / need them. There are far more than enough homes. In fact there’s about 26 vacant homes for every homeless person in the US.
They are numbers. You can disagree with them and call them wrong, even deny them.
There was a worldwide collapse of the real estate and housing markets driven by the pandemic. That’s why rents are high.
A collapse means house prices fall which means rents should fall. I’m not saying you are necessarily wrong, but it seems like a few steps are missing to get from A to B.
No, a collapse can happen when no business is being done in the sector, but demand still grows. In the case, there were no real estate transactions or building. However, demand grew. When the economy returned, there was far less housing than demand, driving prices up.
It’s not a problem of there not being enough homes for everyone, it’s that the vacant homes are not being made available to people who want / need them. There are far more than enough homes. In fact there’s about 26 vacant homes for every homeless person in the US.
I’m not sure this is an argument you can win, if you check their username. Lot of information warfare on here, as usual for the internet these days.
Probably right.
Rents and housing are high because Wall Street was purchasing homes for thousands over market value to create a renters market.