There are hundreds of empty rental houses here in Boise that they would rather have sit empty rather than lower the rent . Also pushed the price of buying to the point that if you make less than 100k you aint buying a house … even a 900 sq ft fixer upper !
That is happening across the country but where you are misinformed is who owns these rentals. It is not the mom and pops like the O.P. that own half a dozen rentals who can afford to let them sit.
It is the **** eating corporations and wall street investment funds. If they don't make a profit the fedsor stockholders bail them out.
If you and I lose money on a rental we have to bail ourselves out.
Currently giant hedge funds and international corporations are buying up rentals and trailer parks as fast as they can get funding.
I often laugh at the people who make fun of "trailer trash" without realizing their 401k is invested in trailer parks.