Gov. Gavin Newsom issues an executive order requiring state agencies to remove homeless encampments in their jurisdictions and urging California's cities to follow suit.
Econ 101 falls apart when landlords are allowed to participate in a pricing cartel. They can also make more money off the asset in their book worth X amount than they can filling the unit with a tenant at a lower price. This is possible because they have a minimum percentage filled at a price that covers their costs for the unfilled units.
So there is no incentive for them to lower prices unless they need to raise revenue for some reason.
Econ 101 falls apart when landlords are allowed to participate in a pricing cartel. They can also make more money off the asset in their book worth X amount than they can filling the unit with a tenant at a lower price. This is possible because they have a minimum percentage filled at a price that covers their costs for the unfilled units.
So there is no incentive for them to lower prices unless they need to raise revenue for some reason.