Will rent go down in 2022 reddit

Someone just posted about this a few days ago with some fairly insightful assessment of the “rent ceiling”.

https://www.reddit.com/r/REBubble/comments/v9f6an/lets_talk_about_the_rent_ceiling/

The rental class typically has higher price sensitivity and greater options for combining households by taking on roommates or moving back in with family. After a certain level of inaffordability/rent increases, any place with income requirements (3-4x rent in income) will go empty simply because local wages can no longer qualify for occupancy.

Rents tend to fall based on increasing vacancy rates - either via more supply (new units) or less demand (population reduction). We are already seeing some anecdotal evidence that average rents are declining slightly in many areas outside the popular coastal metros which historically remain high regardless. I don’t know how far rents will fall or how fast this will happen, but it will likely depend more on local market conditions than national trends.