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I thought living in a big city would be great, Joy says. Rents in an apartment of my type can't be higher than $1500 a

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"I thought living in a big city would be great," Joy says. "Rents in an apartment of my type can't be higher than $1500 a month, for one thing. But it seems like once people get an apartment they're very unwilling to give it up. The wait lists are insane, and the homeless problem is increasing even among people with jobs." Joy is describing a of housing which results from this binding price O surplus; ceiling O shortage; ceiling O shortage; floor O surplus; floor

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