You are correct and at $3000/month the tenants would be better off getting a mortgage and buying own property Here in Ireland there is now calls to cap rent in

You are correct and at $3000/month the tenants would be better off getting a mortgage and buying own property Here in Ireland there is now calls to cap rent increases which is stupid, the reason for recent rent price rises is the lack of building after the Great Recession from which the country is only now emerging, making property investment pointless by putting a cap on rent rises at inflation levels would mean even less homes being build. And of course the state and counties dont have any money for Social housing, the only way they can get more money is by raising taxes to even more absurd levels or cutting public services even more, neither is an attractive option for politicians of course.