But like, how can they milk us for more than we’re able to give?
Yeah, you can charge $100 billion for a studio apartment, but nobody is going to buy it.
The same logic is at play for raising rent. You can’t raise it beyond what people can pay, or else you’ll lose customers and make less money overall.
Not sure why this needs to be explained to you. You think they’re refusing to charge $100 billion for a studio apartment out of the goodness of their hearts? Lol. No. It’s market forces.
Like someone not understanding that minimum wage workers not being able to afford to live where they work is different than ANYONE being able to live there?
Weird.
“I took micro economics and I think I’m smarter than everyone cuz I’ve never heard macroeconomics exists.”
I’m purely talking about rent prices. Not who and who cannot pay it. Rent is going to be priced to maximize profit. This means as soon as people can pay more, they will charge more.
If an apartment complex sees they can make more money by raising rents above what those making minimum wage can pay, then any minimum wage tenants will be replaced by those with more money.
I wholeheartedly believe everyone who doesn’t understand this is looking at the downvotes first, and logic second.
The amount of nonsense I had to read in this comment chain is appalling. But it just shows me the vast majority of you don’t understand basic economics, yet think you do because you agree with people who are wrong.
You seem to think you understand but again, you’re looking at only micro and not macro. It’s not like there’s one apartment next to McDonald’s where everyone who works there rents. People working minimum wage are taking public transport into the city to get to work because they’re already priced out of city apartments. Rent raises literally constantly, it has nothing to do with minimum wage because those apartments are not reliant on minimum wage workers. Hell teachers can’t even afford to live in LA last I remember. Those on minimum wage can’t afford rent there and just have to travel farther for work and live shittier lives.
Because they don’t give a shit. They’ll milk us all dry till we’re living 10 people in a 3 bedroom
But like, how can they milk us for more than we’re able to give?
Yeah, you can charge $100 billion for a studio apartment, but nobody is going to buy it.
The same logic is at play for raising rent. You can’t raise it beyond what people can pay, or else you’ll lose customers and make less money overall.
Not sure why this needs to be explained to you. You think they’re refusing to charge $100 billion for a studio apartment out of the goodness of their hearts? Lol. No. It’s market forces.
“Credit cards”
You still don’t understand, lol.
Even if people were relying on credit cards to pay, there’s still a limit that landlords would have to price around.
My god. This is why this generation sucks with money, lol. Most of you don’t have a clue what’s going on yet think you’re being clever.
Ahh well.
Ahh the good ol “this latest generation is terrible” that people have been parroting for literally centuries. 🙄
Well… if you look at this comment chain you’ll get an idea of how bad it is lol.
Like someone not understanding that minimum wage workers not being able to afford to live where they work is different than ANYONE being able to live there?
Weird.
“I took micro economics and I think I’m smarter than everyone cuz I’ve never heard macroeconomics exists.”
What are you even talking about?
I’m purely talking about rent prices. Not who and who cannot pay it. Rent is going to be priced to maximize profit. This means as soon as people can pay more, they will charge more.
If an apartment complex sees they can make more money by raising rents above what those making minimum wage can pay, then any minimum wage tenants will be replaced by those with more money.
I wholeheartedly believe everyone who doesn’t understand this is looking at the downvotes first, and logic second.
The amount of nonsense I had to read in this comment chain is appalling. But it just shows me the vast majority of you don’t understand basic economics, yet think you do because you agree with people who are wrong.
Sad.
You seem to think you understand but again, you’re looking at only micro and not macro. It’s not like there’s one apartment next to McDonald’s where everyone who works there rents. People working minimum wage are taking public transport into the city to get to work because they’re already priced out of city apartments. Rent raises literally constantly, it has nothing to do with minimum wage because those apartments are not reliant on minimum wage workers. Hell teachers can’t even afford to live in LA last I remember. Those on minimum wage can’t afford rent there and just have to travel farther for work and live shittier lives.