As you said in your comment there is a market for renting. I think in an ideal world, housing prices would not increase so rapidly. I remember a time where houses went up a lot more from quality renovations than just waiting a few months. A situation like that would increase the demand on rent and make it less appealing for slumlords and give them more incentive to keep quality tenants happy instead of viewing them as a space filler until you can cash out in a year.
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