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While it looks nicer, the rent has doubled here
Rent has doubled everywhere in the past few years. Real estate industry is to blame
Yes and no. Yes because fuck big corps that buy houses and set rent price to achieve fill factor of 0.7, no because very these corps buy cheap dirty houses, renovate them, and double the rent.
I bet you don't live in Paris or even France.
There is a lock on rent in heated housing markets for example. Not everything in the US is the same on this side of the pond.
So: keep cities horrible so that the rent stays low. Got it.
Also tourists will stay away
Keep that tourism money at home! Our local restaurants can get fucked!
I think your statment here is actual in reverse of what you may want to point out.
An increase in rent shows a induced demand for the property. More people are wanting to live in this location, thus the rents have gone up because of this demand. The rent did not go up because of the cost of installing those trees, but because the trees are there.
Similarly homes located near public parks, schools, hospitals, or transit may have a higher price tag because more people want said properties.
An increase in rent shows a induced demand for the property.
Nope. Increase in rent shows the pumped up scarcity.
More people are wanting to live in this location, thus the rents have gone up because of this demand.
Again nope. You are spreading propaganda without knowing it. Rent is driven by rental algorithms like Yardi and Realpage. Supply and demand do not work if the property is in the hands of few that calculate their prices using the same database and the same algorithms.
You mean shitty places with no amenities rent for the same as desirable locations because of algorithms? TIL
No, they renovate it to increase the property class, rent cost for this one, and rent prices overall
The rent would have doubled anyway. Paris is Paris.
Due to reno or price gouging?
nature is a costly amenity