You live in a city where real estate prices are skyrocketing. Home prices and rental prices are
Question:
You live in a city where real estate prices are skyrocketing. Home prices and rental prices are expected to go up for the foreseeable future. You decide to borrow money and buy an apartment building. Your plan is to evict the building’s elderly and low-income residents, many of whom have lived there for a long time; refurbish the building; and then rent the apartments out at a higher price to more well-to-do people who have just moved to the city to take high-paying jobs.
Your plan is legal according to local law. Based on the frameworks described in Chapter 2, is it also ethical? Speculate about how you might develop a plan that would enable you to take advantage of the financial opportunity you see while also accounting for the welfare of those who would be evicted.
Step by Step Answer:
Managing Business Ethics Making Ethical Decisions
ISBN: 9781506388595
1st Edition
Authors: Alfred A. Marcus, Timothy J. Hargrave