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Are you suggesting that people paying $5k are doing that because of some inherent property of a $5k rental, and that they would not prefer to pay the year 2000
by runako 4y ago
Are you suggesting that people paying $5k are doing that because of some inherent property of a $5k rental, and that they would not prefer to pay the year 2000 rent on the same unit, say $3000?
If people paying $5k would prefer to pay $3k for their units, why would this logic not also apply to people who are currently paying $3k?
If lower rents would make the city become undesirable, why did people want to move there in the year 2000, when rents were much lower?
- pvarangot 4y ago> inherent property of a $5k rental, The inherent property of a 5k rental he's referring to is that it costs 5k. Most people paying 5k for a studio just _don't want people around their houses_ specially if they are poorer than them. Otherwise they would be paying less than 3k for a room with a shared kitchen and bathroom or renting a bigger place with roommates.