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The people who are moving away are doing so because they can't participate in the housing market in the first place. I don't see how people who can't buy houses
by Sgt_Apone 10y ago
The people who are moving away are doing so because they can't participate in the housing market in the first place. I don't see how people who can't buy houses and are leaving the area will drive down housing costs.
- cmdrfred 10y agoIt will for rentals, if supply is static but demand decreases prices will go down.
- onion2k 10y agoNot necessarily. If landlords would rather keep their property on the market in the hopes of getting a higher rent price than lower the price then the price will remain static. There'll just be more un-let, empty properties. In the UK this happens a lot because property tax (council tax as it's known here) is discounted on an empty property, so there isn't much incentive to fill the property at a lower price. The economics of the property market are weird.