Rent control advocates say corporate homebuyers are driving up the costs of rentals, but that doesn’t capture the whole picture of what’s going on in the housing market.
Last week, rent control activists rallied on the steps of the state Capitol, demanding more affordable rent and an end to eviction for non-payment of rent. They claimed that rents are too high, and it’s the fault of corporate homebuyers. But real estate expert John Adams takes a closer look at what actually makes rental rates rise.
Adams says rising rents are part of the bigger story on inflation and the housing supply and demand crunch. The changes can be grouped into four major areas: