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To: Ahda who wrote (161531)	4/23/2002 11:00:40 AM
From: Michael Bakunin	Respond to of 436258

I'd say it looks like your market is behaving. When you say, "the older the tenants are the more of a premium," it's an indication that the market is making a ghoulish but appropriate life-expectancy calculation, exactly as you'd expect under a vacancy-decontrol regime. Further, as you imply, there appears to be an opportunity for owners willing and able to pursue move-in evictions. Regarding development, capitalism promises that there will always be something available at a price. Alas, restrictions on market responses to price signals (say, onerous zoning or permitting behavior) will tend to amputate the market's rational responses to higher rents. While the market remains comparatively efficient, I think we agree that it is not fair to prospective landlords or tenants. -mb