Where I live, there are lots of multi-family buildings, either "traditional" apartment complexes, urban apartment buildings, and a plethora of 2- and 4-unit bui

Where I live, there are lots of multi-family buildings, either "traditional" apartment complexes, urban apartment buildings, and a plethora of 2- and 4-unit buildings built on previously single-family residential lots. Almost all of these are solely for rent, not to purchase. That has kept rents somewhat stable but the price of buying actual land (that is, a single-family home or even a townhouse where the purchaser owns the dirt underneath the structure) has skyrocketed as people move in. Therefore, renting is cheaper than a mortgage for most properties in my area.