The fact that some people are outraged over demands for rents of $32,000 a month for a house is not surprising; but their ire is misdirected.

If someone is crazy enough to spend that kind of money on a house, then let them. Reducing the rental price to, say $16,000 a month, won't solve the Island's housing problem. The people who need affordable housing still couldn't pay that rent.

Bermuda's rental prices are high because the supply of homes does not meet the demand.

The only realistic way to change that is either by reducing demand (forcing people to double up or driving some people off the Island) which would only be acceptable to the lunatic fringe, or by increasing the supply through more construction.

Rents of $32,000 a month ? or $20,000 a week for a short term rental ? may seem to be a fitting symbol of the state of the housing market, but complaining about them won't do anything to solve the real problem.