Rent prices in Florida were skyrocketing long before interest rates started rising. Our last rent increase before we moved was going to be around 25% back when

Rent prices in Florida were skyrocketing long before interest rates started rising. Our last rent increase before we moved was going to be around 25% back when interest rates were still 0. If anything rent increases -- in South Florida at least -- are partly a zero interest rate phenomenon. There are a ton of half full midrise luxury condos that priced lots of people out of previously affordable communities built as the result of access to cheap capitol and money laundering. There was also the massive influx of people moving into the area during covid. All that to say rent prices in Florida are the perfect example of monocausal explanations for complex phenomenon almost always being wildly incorrect.