[Retric]

Homeowners don’t as a rule directly set prices just as people holding stocks indefinitely don’t set stock prices. However there’s a constant stream of people dying etc which brings such homes onto the market and needs to be offset by people buying in.

Renters are different because they regularly sign a new lease and so very much do care about changes to the prices. Renters leave cities for many reasons, but high rent is a common one especially at retirement.