azureray
Active Member
Yes, and thus we see an economic way of neighborhood transformation. There are young and single lawyers, bankers and doctors who will choose to pay more to stay in the core, while typical renters will be forced out further. Which is what happened to other cities like Manhattan or Hong Kong island many decades ago.
^^^
I think that is a very dangerous assumption.
Rents were quite stagnant over the past 8-10 years. They are up perhaps 20%. There was a large increase the past year.
With the extra product coming on line and presumably more choice, this may in fact not be the case.
I personally would hope for 4%/year but I certainly would not plan on it. Wages are not going up 4%/year and there is as such a limit to how much renters can pay.