'Higher rents encourage renters into home ownerhsip and attract investors as well. So they result in more buyers and higher prices.'
Rubbish!
Renters resent owners when rent is increased.
The argument is fundamentally flawed, ie, let's force renters to but a house, and those that cant afford to buy, wont afford to rent mine!
What's the plan? Force everyone into housing commission if they can't pay exorbadant rents?
I'm a major property bull, and rap like this pisses me off.
In this environment, thank your lucky stars you have renters.
You know, my wife is Macedonian, I have spent some time there and no one rents. Everyone lives in their parents house until their house is built( or more than often, the son lives at the parents house permanently).
Make no mistake, if times get tougher, people will revert to this natural form of living. Ie, not pay rent, live with their parents permanently, and the stuck up tight arse investor has no one renting his place.
