Yes, and the main reason for its cost is lack of supply. Many big cities legislated rent control decades ago, which has directly led to many landlords refusing to rent a lot of their units: Depending on the state of the economy, the cost of maintenance/upkeep of lived-in units often outweighs potential profits from renting. You also have to factor in urban zoning restrictions, which severly limit how many new apartments can be constructed.
In other words, most dense, multi-purpose downtowns are not at all free markets.posted by aaron at 12:43 AM on February 6, 2001
« Older A new strain of the HIV virus has been discovered ... | According to the exponential m... Newer »
This thread has been archived and is closed to new comments
Buy a Shirt