Rising Rents Are Pushing More Tenants Past the Breaking Point
In large cities across the US (and probably most of the world), there is some very large scale foreign speculation in the housing market going on.  This is leading to rising rents and rising home prices.<p>In Seattle, for example, many (newly) wealthy Chinese people are buying houses purely for investment purposes. I know some of them. One of them has purchased 10 houses, and lives in only one of them (when they are in the states).  They&#x27;ve made millions on just this speculation.<p>In the short term, this means housing prices are absurd. In the long term, when these houses are no longer appreciating in value at such large scales, we can expect a crash in the housing market.  Which will likely mean something similar to the housing crisis of 2008.<p>The Seattle city council has wanted to pass a law that would make it visible to the public which houses were being bought by foreign investors, but it was deemed illegal.<p><a href="https:&#x2F;&#x2F;www.seattletimes.com&#x2F;seattle-news&#x2F;politics&#x2F;proposed-seattle-taxes-targeting-foreign-buyers-investment-properties-take-fire&#x2F;" rel="nofollow">https:&#x2F;&#x2F;www.seattletimes.com&#x2F;seattle-news&#x2F;politics&#x2F;proposed-...</a><p>To me, this is absurd.  This is a human rights issue (homelessness is growing by a large amount).  This is also a national security issue; this speculation cannot happen forever, and when it ends, I forsee an awful crash.