WHY are rental prices so high? Many people don’t really know what’s really going on economically and it ain’t pretty! It’s not just supply and demand, that is a factor but the hidden and real reason real estate prices and rents are going up is because of the central banks pumping cheap debt money into the economy and only those with access too it (The rich elites with access to credit) can invest in real estate. For them, it’s a race to the top until the music stops and the whole house of cards comes tumbling down (A process which may have begun with the failing economy by the way). See this vid for a much better explanation than the one I’m giving:
The rest of us poor fools have to rent or buy from them. The only solution is to be out of that system. I.e don’t rent and don’t borrow to buy. Pay cash to buy some land an RV, a tiny house or a boat. Just stay out of the system unless you can get a public housing unit.
Singapore has one of the best housing rates as 80% are housed in quality public housing. Yes, Singapore has its problems but this proves that public housing can work if done correctly. And people get to OWN thier apartments not just rent forever.
It’s not that we as a society can’t solve the housing problem. I mean, really if we wanted to we could provide decent housing for every person on this planet. But instead the rich and powerful are using real estate as a giant roulette wheel to get richer. This explains why in LA even though they are having a huge housing emergency simultaneously the skyline is booming with new luxury condo buildings for rich elites to move money from overseas. ~ Crazy!