Word: riche
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Dates: during 1980-1989
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Unfortunately, the people who cannot find housing are all frequently the poor, even though rent control supposedly equalizes the ability of rich and poor to compete for housing...
When the option of outbidding other customers is foreclosed, rich customers turn to "phantom markets" to get their hands on an apartment. This may take the form of legwork, finder's fees, inside knowledge of an available rentstabilized apartment, or even bribing the landlord...
...article defended the rich who ride the rent control gravy train by saying that "[P]rograms that serve only the poor are demeaning...[and] undercut support for the program itself...
This argument is plausible when applied to welfare programs. At least the rich on Social Security do not take benefits away from the needy. Bribing the rich to support a system that screws the poor is surely a case of the tail wagging...
...have to be Richie Rich to enjoy all this--just the child of a Harvard house master...