Comment on So many expensive homes
leadore@kbin.social 1 year agoRenting them out is not selling, it's an ongoing income source for the owner. The renter does not determine the price when the alternative is to move elsewhere or live out of your car. There's simply not enough housing--supply is limited. It's not a simple equation like a factory adjusting the output and price of its widgets. If things were as simple as you say, there wouldn't be such a severe housing crisis in the US. Just search for US housing crisis, there are thousands of articles explaining what's going on.
RickRussell_CA@lemmy.world 1 year ago
The renter is the person who pays the rent, not the person who can’t afford it.
You’re on the right track, though. Over-regulation, opposition to new construction, and opposition to multi-family construction are the reason buyers are willing to pay more and more in HCOL areas.