The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.
“We know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.
You mean you’d pay the same amount for a house as a landlord pays? But you can do that now, why don’t you?
Has nobody ever informed you that growing demand leads to price growth only if supply grows slower? But if prices grow, then supply does also grow faster. These are feedback loops.
Which means that what a house costs now it would cost still, after a short transient process.
“Suck all supply”, my ass. You mean that you’d buy that house for 1/10 of what the landlord has paid for it, because it’d just be there, like a mushroom after rain? It wouldn’t get built, dummy, cause it wouldn’t be worth the money.
Except highers supply doesn’t bring prices to same level.
The only reason prices are 10 times bigger is because landlords ready to pay those prices.
Bad, bad, very bad boy.
Hahahahahhaaha. I’m not sure if you really think that way or only pretending.
If there are no artificial limitations to supply, and no demand growth, it eventually will. Eventually as in time of regulation.
They are ready to pay those prices because their tenants are ready to pay the prices they, in turn, offer. Which means that they don’t inflate demand.
You are illiterate in economics. I really don’t get why do you think putting “laugh” in text would negate that.