4 ms·

> Since the market is inelastic, and landlords can charge whatever they want, make it 10x. They'll get there, slowly and steadily. You obviously cannot snap y

> Since the market is inelastic, and landlords can charge whatever they want, make it 10x. They'll get there, slowly and steadily. You obviously cannot snap your finger and raise the rent 10x in an instant. You have to boil the frog slowly, by continuously buying up properties and raise rents considerably every year, especially for new tenants. In my city the overwhelming majority of residential apartments are owned by a single private company. This is an especially profitable venture with trailer parks, which don't have as many pesky tenant rights or protections. E.g., https://www.newyorker.com/magazine/2021/03/15/what-happens-when-investment-firms-acquire-trailer-parks https://www.newyorker.com/magazine/2021/03/15/what-happens-w...

WalterBright 4y ago
> You obviously cannot snap your finger and raise the rent 10x in an instant. Why not? Demand is inelastic, and people will be forced to pay it. Right?
- richbell 4y ago
  > Why not? Demand is inelastic, and people will be forced to pay it. Right? You're clearly not engaging in good faith so continuing this discussion would be pointless.
  - WalterBright 4y ago
    Is your point that Supply & Demand set prices or not?
    - richbell 4y ago
      > Is your point that Supply & Demand are actually in play? I never claimed they weren't. However, there are a significant number of external factors that you refuse to acknowledge, like government regulations specifically enacted to protect tenants from this type of exploitation. You initially said "why not just raise the price 2x or 3x!", when I pointed out that this was happening you moved the goal posts to "why not raise the price 10x!" I am not interested in engaging with snide 'gotcha!' games.
      - WalterBright 4y ago
        richbell> Blaming "the market" is a convenient way to cast blame away from people responsible onto a nebulous concept. That sounds like a rejection of Supply & Demand forces. > However, there are a significant number of external factors that you refuse to acknowledge, like government regulations specifically enacted to protect tenants from this type of exploitation. All that does is make for higher rents and lower supply.

WalterBright 4y ago

> You obviously cannot snap your finger and raise the rent 10x in an instant. Why not? Demand is inelastic, and people will be forced to pay it. Right?

richbell 4y ago
> Why not? Demand is inelastic, and people will be forced to pay it. Right? You're clearly not engaging in good faith so continuing this discussion would be pointless.
- WalterBright 4y ago
  Is your point that Supply & Demand set prices or not?
  - richbell 4y ago
    > Is your point that Supply & Demand are actually in play? I never claimed they weren't. However, there are a significant number of external factors that you refuse to acknowledge, like government regulations specifically enacted to protect tenants from this type of exploitation. You initially said "why not just raise the price 2x or 3x!", when I pointed out that this was happening you moved the goal posts to "why not raise the price 10x!" I am not interested in engaging with snide 'gotcha!' games.
    - WalterBright 4y ago
      richbell> Blaming "the market" is a convenient way to cast blame away from people responsible onto a nebulous concept. That sounds like a rejection of Supply & Demand forces. > However, there are a significant number of external factors that you refuse to acknowledge, like government regulations specifically enacted to protect tenants from this type of exploitation. All that does is make for higher rents and lower supply.