Author Question: In a housing market with a rent ceiling below the equilibrium rent, apartment seekers spend more ... (Read 157 times)

Mimi · **on:** May 24, 2019

In a housing market with a rent ceiling below the equilibrium rent, apartment seekers spend more time searching for an apartment than they would in a housing market without a rent ceiling. Why does this difference exist?
◦ In the market with the rent ceiling, renters are searching for the best buy in apartments.
◦ In the market with the rent ceiling, there is a wide variety in the quality of apartments for rent.
◦ In the market with the rent ceiling, the quantity of housing demanded is greater than quantity supplied at the ceiling price.
◦ The premise of the question is incorrect because people spend less time searching with a rent ceiling since they no longer need to look for a low-priced apartment.
◦ The premise of the question is incorrect because there is no difference in the search time between a market with a rent ceiling and one without a ceiling.

flexer1n1 · **Reply #1 on:** May 24, 2019

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