Quote:
Originally Posted by blankall
I think that's a bit of a myth. There are always landlords that will charge as much as possible, and that will then dictate the market.
Rent is going to, because there's more cash out there to pay for rent, and there's a general lack of housing supply. People are being forced into higher rents and worse quality of rentals. Not a good time to not already own your housing.
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Not really a myth, especially for those that have a variable rate mortgage on a rental, which is quite common given their flexibility. Mortgage payments will have now gone up hundreds of dollars, so many landlords will be cashflow negative.
There's the added issue now for landlords coming up for mortgage renewal on their primary or rental...given they are cashflow negative, this needs to be entered as a liability on their application, which makes it harder to qualify. In many cases, landlords need to raise rents.