Quote:
Originally Posted by Hesla
Yeah ... Nenshi is in the wrong here and usually i find myself agreeing with him.
I took a loss on my rental condo for 3 years and now i have a very small gain based on the market value of my area. My rent in 4 years has gone up on average $50 / year.
Is this gouging ?
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Of course not. It's a little like porn - not easy to define exactly, but you know it when you see it. Incremental $50 increases in rent in an inflationary market, clearly not gouging. Suddenly jacking someone's rent 40% because they have no other choice other than to pay it or literally be homeless in a zero vacancy market? Probably taking advantage of someone. Probably gouging.