re: Housing market is stupid right now - brief rant *Update in OP*

quote:

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What I don’t understand is why rents have skyrocketed along with house prices. You’d think there’s a negative relationship there. As people bail out of apartments to own, rents should decline. It’s not like our population is skyrocketing, but this phenomenon seems to be happening everywhere.

It all seems a bit “bubbly” and with rates going up, we’ll find out pretty soon.

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I'd think they'd go hand in hand. If there are that many more renters because of unaffordable housing to buy, then that creates more demand in housing for rent, causing that to go up as well.