21 sats \ 2 replies \ @Bell_curve 17 Jul \ parent \ on: Five Economic Terms You Should Know When Learning About Bitcoin bitcoin
Rent control is an example of price control. Rent control is an example of rent seeking for tenants who live in old buildings
California has a ballot initiative this year in November called the Justice for Renters Act. It seeks to give cities and towns more authority to cap rent. Landlords oppose justice!
write
preview
13 sats \ 1 reply \ @Undisciplined 17 Jul
Correct, although landlords adjust their behavior to bring their marginal cost down to the artificially low rental rate.
reply
21 sats \ 0 replies \ @Bell_curve 17 Jul
No repairs No maintenance
It’s Calcutta on the Hudson as Daniel Patrick Moynihan would say in a different context
reply