In the 50 largest U.S. metro areas, median rent rose an astounding 19.3% from December 2020 to December 2021, according to a
of properties with two or fewer bedrooms. And nowhere was the jump bigger than in the Miami metro area, where the median rent exploded to $2,850, 49.8% higher than the previous year.
I agree.
Many landlords (but certainly by no means all) are taking advantage of tenants, this situation and milking it for all its worth.
The governments should step in introduce rent controls & flood the market with low cost housing to drive rents and the cost of real estate down
@LotusBud.
Rent control always results in fewer units being built while public housing has been a failure every where it has been tried. NYC has been building public housing since the 1930's yet everyone wants a free apartment so the wait list is almost 20 years long. In 90 years of trying they never once were able to keep up with demand because it just induces more demand.
Do you want the market to actually start working, like how it did from 1950 to about 1980? Tell politicians to stop blocking development. In California it is routine how politicians virtually always block all developments unless they first pay big bribes to those same politicians (as "campaign donations") and then triple prices to pay outrageous rates to union bosses. That is how it works and it is the biggest reason low cost housing can't be built.
Might work better in Canada or some small socialist state like in Scandinavia. We had something called the Canada Housing Mortgage Corporation (CHMC) which built apartments years ago.
But I can see yer point.
USA has 10x the amt of people than Canada.
California has more people than Canada.
So the demand & competition for housing is 10x worse in the States. I seem to remember now. And that was 30 yrs ago. Demand is high due to economis of scale.
There's always somebody to compete with you at something in America. A job housing business competitor whatever.
US economy population is the size of the EU.