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Elephant in the room: monetary component of inflation. US printed and gave away a load of money in the past 2 years.

How much money people have on hand in aggregate and how much of it they ready to pay for rent matters!

People on the supply side always adjust their prices to maximize profits (price * quantity). Prices are climbing because some tenants agree to pay.

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Another elephant in the room:

Eviction moratoriums and increased renting risk being passed down to the renter.

So many tenants were taking advantage and abusing the system, but a few bad apples creates an outsized perception, which results in skyrocketing rents.

+1. this as well.

actually, just yesterday I learned about a website for exploring eviction data: https://evictionlab.org/

This created a massive new risk that is now getting priced in. prices are probably going to jump for a decade because of it, and maybe permanently if politicians decide to do another eviction moratorium for some reason.

I think the moratorium made sense in a general sense, but the CDC certainly shouldn't be the one with the authority to create a policy like that.

Which is why it's being challenged in Supreme Court.

Probably lasted a few months too long also.

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