[f00biebletch]

Great point, although said rent is being driven largely by FB and GOOG. I remember the first time I was outbid for a flat in 2016 when a small group of googlers paid cash for the entire first year of rent. I should have moved to Seattle that afternoon :)

[fergie]

Ok, but I meant rent extraction in the economic sense https://en.m.wikipedia.org/wiki/Rent-seeking