[bee_rider]

You are making a lot of predictions from basic principles and very simple models, I’d be amazed if the market was really that simple.

[ethanbond]

It really is that simple. Here's an analogous example of minimum wage increases: https://www.sciencedirect.com/science/article/abs/pii/S00941...

Evictions went down for 3 months, then rose again back to their prior level after as rents increased.