Economic Lessons from Friends: How Much Would Monica’s Apartment Cost to Rent?
An analysis of rent control in New York City
How much would the apartment in Friends cost? Monica Geller has rent control on her apartment so she doesn't pay the usual NYC rates for it, but just $200/month. But rent control is a big issue that we explore in this video.
Specifically, we examine the following issues:
1. What is rent control?
2. What would Monica's apartment rent for without rent control?
3. Why does rent control tend to cause shortages?
4. Why does rent control tend to cause higher prices?
To learn about these, watch this video!