"We have seen corporate landlords—who own a larger share of the rental market than ever before—use inflation as an excuse to hike rents and reap excess profits beyond what should be considered fair and reasonable."
This is true, but very few of those houses exist where homelessness is a major problem. Location plays a huge role in someone’s life and we can’t just ship everyone that’s homeless or struggling to a dying small town in the US.
The lowest non-condemned house in my city is currently listed at over half a million dollars. There is a three story office building in my block that has been empty since March 2020.
If the lowest house in your area is $0.5M and it’s selling… that’s supply and demand. Low supply of housing, high demand in your area. It sucks but it’s a lack of local supply to drive prices down (likely coupled with skyrocketing building materials costs due to price gouging “inflation” making building less feasible)
Office space is pretty different for a lot of reasons, and the need for it in general has shrank a lot after the pandemic.
This is true, but very few of those houses exist where homelessness is a major problem. Location plays a huge role in someone’s life and we can’t just ship everyone that’s homeless or struggling to a dying small town in the US.
The lowest non-condemned house in my city is currently listed at over half a million dollars. There is a three story office building in my block that has been empty since March 2020.
I’m not understanding what you’re trying to say.
If the lowest house in your area is $0.5M and it’s selling… that’s supply and demand. Low supply of housing, high demand in your area. It sucks but it’s a lack of local supply to drive prices down (likely coupled with skyrocketing building materials costs due to
price gouging“inflation” making building less feasible)Office space is pretty different for a lot of reasons, and the need for it in general has shrank a lot after the pandemic.
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Pity we don’t have people whose job it is to do plumbing work. Nope, doesn’t exist.
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