Word: rent
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Dates: during 1990-1999
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...said her family felt that the askedincrease in rent was unacceptable...
...whim, the trio goes to the sea. They rent a house by the beach and spend the summer there. They have a glorious time of it, with a few minor incidents. Catherine is extremely jealous when Jules and Jim don't pay any attention to her because they are so engaged in a game of dominoes. Jim is attracted to Catherine, but he respects Jules so much that he does not take advantage of the fact that Catherine is also attracted to him. As the summer ends, Jules proposes to Catherine, and she accepts...
...current rent control system is rotten to the core. Cambridge faces a terrible shortage of living space, and landlords have to incentive to improve their property. Furthermore, there is no motivation for owners to rent to lower-income tenants; they get the same rent from anyone so they might as well rent to the first person who comes along...
Even more outrageous is the reluctance of the Cambridge rent control board to increase the rent by a decent amount from year to year. Indeed, the board usually makes annual adjustments of about one percentage point far less than the rate of inflation. The result is that, measured in real dollars, rents actually fall from year to year...
Basic economic theory points out that the surest way to generate a shortage in the supply of a certain good is no institute a price ceiling. This is exactly what we are seeing how in Cambridge. Fixed rents have aggravated the shortage since people are less willing to rent their property knowing they can only charge minimal rents. And rent control has decreased property values since the prospect of purchasing property to rent out is scarcely enticing...