4 ms·
In a slight parallel, there's a concept of "spoiling the market" in Singapore. There's cultural pressure to not drop rent or not increase wages by "too much" a
by c_o_n_v_e_x 5y ago
In a slight parallel, there's a concept of "spoiling the market" in Singapore. There's cultural pressure to not drop rent or not increase wages by "too much" as that would "spoil the market." Anecdotally, I've seen landlords here in SG keep properties vacant for long periods of time rather than drop the rent.
- avidiax 5y agoThat sounds quite similar to the U.S. commercial real estate sector, except that (IIUC) the structure of the loans in the U.S. would require a refinance if the nominal monthly return of the underlying property were ever lowered. So properties sit vacant with an ongoing business loss rather than realize a real loss.