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semihat t1_itsepl4 wrote

If the software set rents too high, apartment vacancies would increase but that hasn't been the case. Vacancies have come down, so you could argue rents are too low.

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Antique-Zucchini3250 t1_itsgmye wrote

hm it's almost as if housing doesn't perfectly follow economics 101 theory, maybe because people are willing to do almost anything to not be homeless.

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GMUcovidta t1_itsjlbp wrote

Anyone that passed economics 101 is familiar with necessities and related pricing elasticity. The fact people are willing to spend a lot to avoid homelessness is covered in entry level Econ classes and a key part of many more advanced economic theories.

The person you're replying to is just clueless and doesn't understand how leases work.

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semihat t1_itt30a4 wrote

the alternative to renting an apartment is not necessarily to go homeless. 1. you could buy a home 2. you could rent a single family home 3. you could move in with family 4. you could move into a home or apartment with roommates.

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bruxalle t1_itueip2 wrote

Yeah, you could just win the lottery dummy!

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