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That's the case in any predictably supply restricted market. That behavior completely disappears if you don't restrict supply, because if people can build more
by Schiendelman 3y ago
That's the case in any predictably supply restricted market. That behavior completely disappears if you don't restrict supply, because if people can build more housing, housing depreciates - and investors put their money somewhere else because they don't want to lose it.
- BytesAndGears 3y agoThis is the key. You can’t have a vacant building charging ridiculous rent because of “speculation” while there are 10 similar buildings nearby that charge half the price and have tenants. No sane investor would fund that