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My neighborhood, going rate for a whole standalone house is around $2200/month, while an apartment might be $1500. I'm just guessing that's the most they can ge
by imglorp 8y ago
My neighborhood, going rate for a whole standalone house is around $2200/month, while an apartment might be $1500. I'm just guessing that's the most they can get in both cases, so demand is setting the price, not features. So clearly, if you're a landlord, it's most profitable to buy a building and divide it into as many $1500 units as possible.
- neffy 8y agoQuite. The supply argument implicitly assumes that there is no limit on the amount of money available to express demand - and the sound of hollow laughter is now heard in the background from the working class. Frankly, it always made me wonder who actually does the shopping and pays the bills, in economics households, because it clearly isn't the Professors in question.