I mean in my neck of the woods the issue is less landlords driving up the price as it is influx of California s selling 1000 sqft homes in California for 1 million and being able to pay cash for any affordable house here because we donāt have a supplyā¦ again see my other reason for not having supply
I just googled it. It seems to be the mortgage lock-in effect thatās the number one driving factor for lack of homes. Mortgage rates are too high so people arenāt selling. They do mention construction under-building, but itās not really the main cause. Also in 2021, California passed a law allowing single family homes to become up to 4-family dwellingsā¦ ohā¦ this lead to a bunch of companies coming in and paying cash for homes to convert to rental units. And thereās actually been a lot of push to make it easier to build more and further deregulate and that seems to be having none of your expected outcomesā¦ because itās not really the biggest reason. And again, it has even had some of the opposite due to zoning deregulation.
