3 ms·
they are free to ask for $4. if the market is working efficiently then the renters in the market will start a bidding war between landlords to lower their price
by metaphorm 12y ago
they are free to ask for $4. if the market is working efficiently then the renters in the market will start a bidding war between landlords to lower their price. as soon as one landlord reduces the asking price below $4 its all over, and the $4 "market price" is proved to no longer be the market price.