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Gray- No, I'm saying that simple supply/demand is a false religion and that's why Econ goes past 101.

Cost matters too. There are plenty of instances where an owner is more than happy with rents that are much more than that owner's cost and rents stay somewhat stable. But when you inject numerous new units in proximity that, by necessity, have much higher rents, owners aren't deaf mute and blind. Rents in the entire neighborhood rise much more than they would have.

by Tom Coumaris on Jul 4, 2012 12:43 pm • link • report

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