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Part of high rent comes from the inflated property values the assessors offices have assigned over the past few years. We just sold a rental property because the taxes became too high and I couldn’t, in good conscience, increase rent that much.
I’m not disagreeing with the inflation of property values, but I think one of the biggest driving forces of that is out of state property owners and investors, who can make money on renting. I don’t think the idea that properties may need to be sold and increase the supply in the market potentially for homebuyers is necessarily a bad thing.