Rent prices fell in September by 1.51% for the second month in a row. Annualized, that would represent 18.12%. Nationally, prices took a 2.51% monthly dip, the first time since early 2021. Since rent control continues to be a hotly contested subject on this year’s ballot, it’s worth being reminded that government simply cannot usurp market economics when it comes to supply and demand. While Orlando continues to remain at historic highs, rentals are decreasing, not based on politics, but based on economics. Rent control would not only disincentivize construction, it would ultimately exacerbate the continuing problem. Let economics, not politics, control this issue.
Originally posted for the Orlando Sentinel’s Central Florida 100.
Photo: apnews.com