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'Renters Are Struggling': Economists Back Tenant-Led Push for Federal Rent Control
(www.commondreams.org)
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this post was submitted on 06 Aug 2023
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Your use case reflects what I said exactly.
For someone to buy your condo today, they will be signing up for a mortgage whose monthly cost is near the going rent price. And most likely, more than the going rent price.
If they were to just buy and rent it out, they will likely be doing so at a loss.
The market going up or down after the purchase of the property is independent. It may go up, it may go down. That's the gamble you make if you're doing it as an investment.
Your experience happened to take place at an extraordinarily good time to already own property., and FOMO was certainly fueling the frenzy during the peak.
Whether that continues to be the case is unknown. Economists are all over the map.