Rent prices and house prices are linked. The more houses people buy to live in, the supply for houses for rent lowers. People that had property renting out see

Rent prices and house prices are linked. The more houses people buy to live in, the supply for houses for rent lowers. People that had property renting out see a higher return by just selling their property, reducing the supply for the rental market. How strong is that correlation, i don't know. There could be other demographic factors like people moving to cities more and more (SF still has a huge influx of people).