Copying my comment from another thread because that is relevant. Do you rent? If yes, how much does rent have to increase before you decide, "Ah yes, I would m

Copying my comment from another thread because that is relevant. Do you rent? If yes, how much does rent have to increase before you decide, "Ah yes, I would much rather be homeless, but at least I am voting with my wallet, that will show the greedy landlords not to raise rents!" I personally cannot think of a limit at which I would decide to be homeless. I would much rather have a home to live in than buy any food beyond what sustains me, or get new clothes, or go out for any entertainment reasons. I believe I am not the only one in this. Thus, from a purely economic perspective, the landlord in these cases are "leaving money on the table", i.e. they could capture more of my surplus income if rents happened to increase in a coordinated fashion. Unfortunately, there is nothing in Econ 101 which tells you why that would be bad or unsustainable (social unrest etc.) and thus these concepts will be hard to grasp for people who do not have to live this life.