Basically yes, but there are more things at play. For instance, if evictions are not being processed right now (or if there are very strong squatting laws in normal times) this distorts the price discovery of the market. Actual demand will have dropped, but the resulting free supply cannot also come online because people will be living rent free. You can't rent out a unit with someone living in it.

Please note that this isn't to say tenant laws are a mistake, but they do raise the price of rent for everyone.

I think you're confusing the risk of buying an asset with the day to day reality of operating in.

In the current environment, asset value decreases and certain costs (prices charged) have decreased as the supply chain adapts to try to maintain break even volume.

Maybe it's different across the board.

Not really, you have to take into account a renter’s ability to pay. There’s an upper limit to what people can afford to spend on housing. Risk dictates a low percentage of the overall factor in pricing.