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this post was submitted on 23 Sep 2023
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At first I read this headline as a good thing, but after reading the article it's bullshit. They're just giving temporary discounts to new tenants while still gouging the existing ones. And it's all in an effort to maintain their ridiculous prices 🙄
Exactly. Nothing long term or valuable is happening.
Yeah in the start they literally say median rent is 2 dollars lower than the record high which was set last year so with a paywall in front of it its basically misinformation by insuring most people only see the headline.
Also they are doing it to keep their assets looking good on paper cause what you charge in rent values the asset which is dumb as fuck.
If it's a temporary discount it still reads on paper as if the rent hasn't decreased but if it does go down and suddenly people who have you loans based on that passive income and asset wealth catch on they will realize their loans are fucked.
We are on such a dangerous precipice because everyone has to pretend that this is totally sustainable or else we absolutely have a market crash a lot like 2008 and wow who would have seen that coming right?