The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.
“We know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.
Before I took economics in college I would have downvoted you. Price ceilings don’t solve the problem.
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There are countless examples showing it works. Look up France for example.
It’s funny, somehow I managed to understand this before any college. Because supply and demand are supposedly quite intuitive.