Word: marketing
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Dates: during 1980-1989
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THESE economic incentives for the real estate industry to abolish rent control have only increased. The average rent-controlled apartment is valued at $25,000, according to both sides of the 1-2-3 debate; in the free market, these apartments would sell for more than $100,000. Large landowners stand to make millions of dollars, if only Cambridge voters would let them...
...proponents' argument is typically neocloassical. By moving towards the free market in housing, supporters of 1-2-3 say all people can gain without anyone losing. Tenants allegedly gain by having the opportunity of home ownership. The city allegedly gains with the increase in tax revenue, as housing units are taxed at market rates. And oh yes, landlords just happen to gain also, to the tune of several million dollars...
...proposal will adversely affect low-income tenants in another way as well. A reduction in the supply of rent control apartments will force more people to the market of non-rent controlled apartments. More demand there will mean higher rents across the city. No wonder the Cambridge Tenants' Union opposes...
...that the Harvard Lampoon is "the University's wealthiest undergraduate organization" with "a net worth of $1.6 million." Harvard Radio Broadcasting Co., Inc., owned by undergraduates, is the sole owner of WHRB-FM. WHRB-FM's broadcast license is valued between $5 million and $10 million in the Boston market, making WHRB wealthier than the Lampoon. Marc D. Peters WHRB-FM Station Manager
Parodi suggested that bankers allow his countryto pay back its debt at "secondary market rates,"which range as low as 15 percent of the value oforiginal loans. The drastically lower ratesreflect Ecuador's actual ability to pay, as wellas market rates for problem loans that lenderstransfer among themselves, Parodi said...