[mattm]

In my city, the average family income is about $60k but housing is expensive to buy. One-bedroom condo's start at $200k so a lot of people rent. Unfortunately, since developers can earn so much by selling units instead of renting them, they all veer towards that.

I'm sure rent control plays a factor too. Rent can only be increased by 3% per year or something like that.

End result, there hasn't been a new building built for rental apartments in my city for over 30 years.

[pavel_lishin]

Seems like unless there's a constant influx of people, eventually everyone that wants to buy a condo will end up with one... leaving a lot of built-up condos ready to sell, with nobody buying. Wonder how long it'll take.