‘Pandemic pricing’ is here. Rents are dropping across the US – CNN

https://www.cnn.com/2020/06/16/success/rents-are-dropping-us-cities-coronavirus/index.html

“I’m seeing rents are down 10% to 20%, with higher-end and luxury units taking the biggest hits,”

Considering that the typical owner’s net operating income after mortgage, taxes, insurance, utilities, repairs, employees, is 7-9% there will be a lot of failures, of both owners and municipal budgets.