I REMEMBER learning about supply and demand, at school and at university.
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Sounded realistic and logical. But that theory has died a long death.
It is often still used as a reason for high prices but when it comes to low demand, we only hear about the price of iron ore and other stuff we dig up and the Chinese don't want any more.
What about rental properties?
Rents in Orange should have dropped in the last 16 months, but I see no sign of it.
There are a great number of empty properties but agents are still asking premium prices.
Supply is high, demand is low. Rents should be dropping, yet they are not.
Estate agents are maintaining artificially high rents for owners and punishing ordinary families with huge rents.
Elke Brown,
Orange