I've never experienced one and I'm curious to know more. I've seen house price booms but not rental.
I live in an area that has had one of the biggest rental increases in the city (80% in 10 years? I'm sure there have been bigger individual rises but I mean the average in my area) but I can't fathom what it would be like to see this type of increase in say half that time, or even less.
I assume every 6 months or whatever the legal period is, rents jumped up by breathtaking amounts? How did tenants react? I assume most stayed on because every other landlord was doing the same and they had little choice? Can someone paint the picture for me of what it was like? A lot of us around the 25-35 age range would have never been through this before as they are much rarer than regular CG booms.
I live in an area that has had one of the biggest rental increases in the city (80% in 10 years? I'm sure there have been bigger individual rises but I mean the average in my area) but I can't fathom what it would be like to see this type of increase in say half that time, or even less.
I assume every 6 months or whatever the legal period is, rents jumped up by breathtaking amounts? How did tenants react? I assume most stayed on because every other landlord was doing the same and they had little choice? Can someone paint the picture for me of what it was like? A lot of us around the 25-35 age range would have never been through this before as they are much rarer than regular CG booms.