Cost of housing

Customer was believer in supply and demand, he said, but it didn’t work with rental prices, because there are just a few big renters and they are insulated against market pressures. “It sucked.”

It reminded me of the customer who said the answer to higher rents was to build more single family homes, which on the face of it was absurd (restricting supply). But what he was probably driving at was this same things as this customer — get these big management companies and property owners out of here and you will see prices go down, because they are keeping prices above market rates.

(Finally, wasn’t there a way to prevent banks and investors from buying up the housing stock? Couldn’t houses be, you know, for people who were actually going to live in them?)

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