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Ok, so you seem to think that landlords cooperate on pricing. My reply was to the person above who seemed to think that prices may deviate from the market rate
by smegma2 7y ago
Ok, so you seem to think that landlords cooperate on pricing. My reply was to the person above who seemed to think that prices may deviate from the market rate without any cooperation.
Regardless, do you have a source on the claim that housing prices never go down, even with a declining population? I'd be curious to see if they adjusted for inflation or not.
- TomMckenny 7y agoI was listing barriers namely debt and market research. The market research barrier is solved in such a way that it produces a de-facto cartel. But indeed, "Never" is to strong a term. "Typically in the US" would be more correct. in 2000, the average US rent was $600 and the vacancy rate was 7.8% in 2018, the average US rent was $1400 and the vacancy rate was 7.5% I can not list every city in the country that has lost population but I can start with two: As I mention elsewhere, Flint Michigan has lost some 20% of it's population since 2000 and rent has still risen. And searching California for cities with declining population (there are not many) the first I found, Citrus Heights CA, has had a net drop in population in the last 20yers yet rent has increased four fold. At any rate, the down votes make it clear this information is not welcome here.
- smegma2 7y agoNo, this is useful information. Thank you.