On 3/12/09, Sumant Srivathsan <[email protected]> wrote: > You can choose not to consider the restricted use properties in your hunt > for a home. Those who are restrictive will lose out on rental income, and > may eventually be forced to raise those restrictions. Basic economics, no? >
Maybe not. Sometimes people will rather make a loss and keep a certain segment of people out. For instance, here in Nairobi if you are an indian you can get quoted a lower rent for housing in certain parts of the city (where there is a high concentration of indians) than if you are an african looking to live there. The same applies to buying property. I know an african guy who was willing to pay almost double the asking price for a particular property - but was refused the sale. On the other hand, in Italy i was reading a newspaper article about tenant - landlord litigation where the landlord was unwilling to extend the lease for a bangladeshi citing food smells which upset the other tenants - and reduced the rental value of his housing complex.
