BOSTON—Apologizing to his tenant for circumstances that were beyond his control, local landlord Eddie Turley was reportedly forced Monday to raise the rent due to thinking of a bigger number. “You can re-sign your lease, but I have to raise it by $250 a month because I realized there was a bigger number your rent…
I suspect that when the government implements things like universal basic income, rents will increase with that amount the next day.
Some argue of universal basic utility instead.
A huge majority of politicians are landlords. They’re more represented than mining, tech, forestry, oil, agriculture, or any other big industry lobby group.
Rents will rise, but it’s by design.
This doesn’t happen where UBI has been put into practice, and only happens in theory if you assume housing demand is perfectly inelastic. That’s why it’s a common suspicion.
This why we need more supply
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