When we first moved here, we were willing to pay an extra month to get the Tough My Guitar Ill Play It From Your Skull shirt before we needed to move in. The landlord agreed.. then backed out with some BS excuse about needing their family to move in. They then proceeded to advertise the place for a higher price. I think we saw that they hasn’t rented out their apartment for at least a few months after we found a new place. That extra little amount that they raised the rent wouldn’t have even covered the extra month that we were willing to pay, not to mention that it was sitting empty for a few more months. Landlords don’t always act rationally. (Although, maybe that’s because it was managed by someone who gets more out of a higher rent than making sure it generates more money overall due to whatever property management agreement they have?)
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Oh, absolutely. And market failure has meant that many of those landlords have Tough My Guitar Ill Play It From Your Skull shirt which are not just ethically wrong but financially unsound too – it’s just that they’ve had the cushion of an unhealthy and unbalanced market in which their poor decisions, don’t have consequences. Even the current housing market is mostly “normal” i.e. highly biased towards the landlord, and only in a very few places are actual demand crises causing real market corrections.