Re:Why the US is one of only a few countries with no paid ti...
by spiralpolitik on Saturday August 26, 2023 @10:20AM
(#37273180)
It's the same everywhere. Right now everyone in the chain is squeezing the level below them for as much as possible.
The coffee shop near where I work is a small business and their landlord increases the rent regardless of market conditions. At some point they either close up, putting 2-3 people out of work, or end up charging $10 per cup of coffee.
Right now there is no market counter force against the rent increases. There are many empty units but the landlords keep the rent high to keep the value of the building high. There is no penalty for keeping the unit empty even if there is demand for the unit at a lower price point.
In NYC, the enemy is the landlord.