a concept a lot of cities actively refuse to believe is possible by their obsession with limiting development.
for rents to be stable you need 6-7% of available units vacant. much more if you want to drive prices down.
the vacancy rate in many places is like 1%. hence the rents going up super fast YoY. in my city people bid up rent because there are so few apartments available. so it lists for 2800/mo and the person that gets it is paying 3200/mo.
adequate housing supply for the housing demand.
a concept a lot of cities actively refuse to believe is possible by their obsession with limiting development.
for rents to be stable you need 6-7% of available units vacant. much more if you want to drive prices down.
the vacancy rate in many places is like 1%. hence the rents going up super fast YoY. in my city people bid up rent because there are so few apartments available. so it lists for 2800/mo and the person that gets it is paying 3200/mo.