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Author Question: New York City, which has had a rent ceiling law for more than sixty years, has many abandoned ... (Read 24 times)

SAVANNAHHOOPER23

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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?
◦ Few workers with jobs in the city want to live in there because of pollution.
◦ No building permits for new apartment buildings have been issued for over fifty years.
◦ Once any building gets so old, it is abandoned.
◦ Landlords have no incentive to finance maintenance and remodeling of apartment buildings.
◦ Rent ceilings make the construction of new buildings so profitable that old buildings are simply abandoned.


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Marked as best answer by SAVANNAHHOOPER23 on May 24, 2019

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