Re:Google ends plans for smart city in Toronto
by WalterBright on Friday May 08, 2020 @01:03AM
(#23111570)
Again, your own cite contradicts your thesis:
"Despite the increases in Detroit, the city's average rent is still among the lowest in the nation at $610. But that's quickly changing in and near downtown and Midtown, where the flow of new residents is creating a greater demand for housing."
The share of unoccupied housing exploded from 2010 to 2018, to 23%, according to the census. This is a sure-fire indicator that supply is far, far superior to demand. And yet, the price of rent increased. This means that supply and demand simply does not explain the rising price of rent. I don't see anyway that demand might be higher than supply, while unoccupancy rates are above 10%.
Also, if you want a source that doesn't make empty, baseless economic statements without backing them by facts, there is this one: https://www.metrotimes.com/news-hits/archives/2019/03/06/is-...
I simply used the one above because it was clearer about the primary source used. But of course, websites run by real-estate investors will make baseless claims about supply and demand, without backing them up with any data, that is simply a fact of the matter as such a mentality seems to be widespread.