4 ms·
Rent is only affected by income/capacity to pay to the extent that supply is limited. You could give everyone currently living in Detroit $10,000/month, and it
by jlmorton 5y ago
Rent is only affected by income/capacity to pay to the extent that supply is limited.
You could give everyone currently living in Detroit $10,000/month, and it wouldn't impact rental prices at all, because there is an abundance of supply. Do the same thing in NYC, and indeed rental prices will soar.