Yes, but there doesn't need to be a single buyer. The group of people that can afford to do this can do it. Prices are fairly inelastic so there's not that muc

Yes, but there doesn't need to be a single buyer. The group of people that can afford to do this can do it. Prices are fairly inelastic so there's not that much competition. You can't just double the rent one year, but rents across the board can move in lockstep (and are sort of forced to as people decide x% yield is normal).