If those evil rent-seeking landlords decide to sell and first offer the home to the current tenants (which is fine by me), the "market rate" is that determined in the current free market. If the housing market is bullish as it was a couple years back, the asking price may or may not be affordable by the current tenants. Then what? Does the city enact statutes mandating what it perceives as a fair market rate and force the owner of the property to sell at that rate? If so, I think the city should set the market rate of filet mignon at $1.99 lb so we can all afford it.
Please explain the inappropriate content below.
