Some owners of rental properties in Cedar Rapids, Iowa are citing supply and demand as a rationale for raising rental prices. Disgusting. The soul of capitalism is revealed within the midst of a tragic situation. Cedar Rapids, Iowa flood survivors’ need for housing is turned into the “market’s demand”. Heinous.
A post-flood housing shortage in Cedar Rapids is driving up rent for everyone as displaced families look for places to live.
Some 3,900 homes in town were damaged by the flood. Many continue to be uninhabitable. In Iowa City and Coralville, about 800 homes were evacuated.
Josh Pierce and his wife and three children had been looking for a house to rent for about a month. They’ve outgrown their small apartment in northeast Cedar Rapids, where they’ve lived for about a year.
A home at 938 38th St. SE caught their eye and on June 9, the Monday before the flood, it was listed at $645 per month by Equity Realtors, a company owned by Bob Miell.
A week later, the same house was listed online at $845 per month. Pierce called Miell’s office.
“‘Supply and demand’ â€” that’s all they said,” Pierce said.
Miell did not respond to requests for an interview.