|
The implication that prior administrations were better on oil production seems disingenuous. We’ve had a pandemic that shut down demand. Futures were literally negative 1.5 years ago. Singe then, Texas froze and had hurricanes, and Louisiana had 3-4 massive hurricanes as well. Producers scaled back production when prices were super low, and haven’t been in a hurry to oversupply a market where prices are high.
Back to rent, if the rent increases were 4-5%, we could buy the whole “inflation” argument. 40% is something else. You could say build more, but big money is snatching up real estate, and creating a supply shortage. If these property management companies and REIT’s suddenly needed to divest, there would be plenty of houses.
|