I knew someone in Seattle who worked closely with some of the big housing agencies (like Pillar and the like). He tried to tell me a lot of these larger propert

I knew someone in Seattle who worked closely with some of the big housing agencies (like Pillar and the like). He tried to tell me a lot of these larger property managers were held by Chinese companies, and they intentionally kept a lot of completed or renovated units empty to drive up the price. Apparently they'd keep enough of these units off that they could keep the 1 bedroom price around $2k, but not too many so the city wouldn't catch on. I couldn't find anything else though, either in the news or other people in knew in real estate, to corroborate that; so maybe he was blowing smoke or taking tokes.