There should be an upper limit on rental prices

[HereLiveIAmNotACat]

Am I the only one that thinks the property investment industry is horrendous and shows how awful, greedy and selfish mankind can be? Surely there should be laws around this? Or caps on the maximum profit a homeowner can make per month relative to any mortgage on the property?
How can it be right that rental prices are ludicrously above mortgage prices purely for the homeowners to benefit from someone else paying off their mortgage and make a pretty penny on top.. then moving on to their third, fourth houses etc..meanwhile renters are stuck forking up more than they can afford with little chance of ever making it onto the property ladder due to the impossibility of saving up whilst paying rent.
Unless you were fortunate enough to have a property in the 80s before inflation/money from family you’re screwed really.
Just means less and less rental properties being available. The rich getting richer the poor getting poorer. And it’s always ‘oh it’s brilliant we’ve paid that mortgage off and are making such and such per month renting out..we’re now moving to a much larger house in a much nicer area’ as if that’s something to be proud of?!

(Yes- bitter renter here)

@XingMing

I do think that each LA area ought to set range guidelines for price per square foot private rentals, as in basic, medium and luxury, based on facilities, fixtures and furnishings.

Not that it would help much here in Cornwall, because every one with a spare room or a rental property does holiday lets and AirBnB. Friends who do this (retired, for their pension income) let from early November to just before Easter as winter lets, at market rates.

I always wonder who let to in the off season. And where those people go when they get turfed out at Easter and there's no other accommodation available. Who wants to live on such a tempoarary basis at a point in the year when there's no work to be had anyway?

Decompression! I think around here, especially at the moment, there are a lot of people who are trying to move here from out of area who have missed seeing new stock in the frenzied atmosphere but can put a purchase together during winter with a view to move long term in spring. Friends of friends sold in France last summer, then bought in late summer and have taken a six month rent while the renovation of the house is completed. That said, they are very well-off, so far from typical of most of MN.

Thanks @XingMing, interesting.

www.theguardian.com/society/2021/dec/10/squalid-privately-rented-homes-cost-nhs-340m-a-year-regulator-finds