Thank you for this. I read the ProPublica articles a while ago. To be honest, until recently, I was a real estate agent and I was scratching my head at how these rents kept soaring when occupancy was not near 100% and people's salaries were not keeping up. It was like the entire rental market was bifurcated from market forces. People kept gaslighting me saying that I didn't "understand" the market. HUH??? Yeah, I didn't understand what was HAPPENING to the market - because I understood standard market forces. The trend was not yielding to standard market forces!
Thank you for this. I read the ProPublica articles a while ago. To be honest, until recently, I was a real estate agent and I was scratching my head at how these rents kept soaring when occupancy was not near 100% and people's salaries were not keeping up. It was like the entire rental market was bifurcated from market forces. People kept gaslighting me saying that I didn't "understand" the market. HUH??? Yeah, I didn't understand what was HAPPENING to the market - because I understood standard market forces. The trend was not yielding to standard market forces!