Next City Magazine has an interesting article on rent rises around the country.
“There’s a tremendous amount of footloose global capital that is looking for a place to get returns. Where a lot of that capital has landed is in urban real estate,” says Stacy Mitchell, co-author of the report and co-director of ILSR. “So there’s this speculative run-up in prices that has little to do with the actual economics of a particular building.”
This kind of capital can come with a bias against local tenants, which is particularly harmful for an area like Delano. There are a number of ideas in the article (and the report it refers to) about how to re-level the playing field.