1% is still very high, compared to 0 in india, U.K., many other places. Rent in india is like 1-2% of property value / year. In texas with 2.5% property tax, r

1% is still very high, compared to 0 in india, U.K., many other places. Rent in india is like 1-2% of property value / year. In texas with 2.5% property tax, rent is closer to 8%. Even Seattle is probably close to 3% / year. Rent is basically property tax + interest rate + maintenance - inflation in property values.