So investment firms have bought into appartment blocks as they offered higher returns. They are now being squeezed by interest rates. And their answer ... Raise

So investment firms have bought into appartment blocks as they offered higher returns. They are now being squeezed by interest rates. And their answer ... Raise rents for lower to middle income households by 44% over 3 years. I'd love to know what they are smoking. What makes them think that the market will bear that sort of rent increase?