this post was submitted on 06 Sep 2023
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'This is egregious': Sisters shocked when Toronto landlord raises rent to $9,500 a month (toronto.ctvnews.ca)
submitted 1 year ago by girlfreddy@lemmy.ca to c/canada@lemmy.ca
324 comments fedilink hide all child comments
 

The landlord had told them he wanted to raise the rent to $3,500 and when they complained he decided to raise it to $9,500.

β€œWe know that our building is not rent controlled and this was something we were always worried about happening and there is no way we can afford $9,500 per month," Yumna Farooq said.

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[–] EnterOne@lemmy.ml 3 points 1 year ago (3 children)

Before I took economics in college I would have downvoted you. Price ceilings don't solve the problem.

[–] Rocket@lemmy.ca 2 points 1 year ago* (last edited 1 year ago)

Before I took economics in college I would have downvoted you.

Now that you have studied economics, what do you think he got wrong that keeps you from pressing the "This is factual" button now?

[–] ClumZy@sh.itjust.works 1 points 1 year ago* (last edited 1 year ago)

There are countless examples showing it works. Look up France for example.

[–] vacuumflower@lemmy.sdf.org -3 points 1 year ago

It's funny, somehow I managed to understand this before any college. Because supply and demand are supposedly quite intuitive.