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.

  • EnterOne@lemmy.ml
    link
    fedilink
    arrow-up
    11
    ·
    1 year ago

    Before I took economics in college I would have downvoted you. Price ceilings don’t solve the problem.

    • Rocket@lemmy.ca
      link
      fedilink
      arrow-up
      5
      ·
      edit-2
      1 year ago

      Before I took economics in college I would have downvoted you.

      Now that you have studied economics, what do you think he got wrong that keeps you from pressing the “This is factual” button now?

    • vacuumflower@lemmy.sdf.org
      link
      fedilink
      arrow-up
      1
      ·
      1 year ago

      It’s funny, somehow I managed to understand this before any college. Because supply and demand are supposedly quite intuitive.