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New York City, which has had a rent ceiling law for more than sixty years, has many abandoned apartm

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New York City, which has had a rent ceiling law for more than sixty years, has many abandoned apartm

New York City, which has had a rent ceiling law for more than sixty years, has many abandoned apartment buildings throughout the city. Which of the following explains this?
A) Few workers with jobs in the city want to live in there because of pollution.
B) No building permits for new apartment buildings have been issued for over fifty years.
C) Once any building gets so old, it is abandoned.
D) Landlords have no incentive to finance maintenance and remodeling of apartment buildings.
E) Rent ceilings make the construction of new buildings so profitable that old buildings are simply abandoned.

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Essential Foundations of Economics

Edition: 7^th

Authors: Bade, Parkin

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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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