Quote:
Originally Posted by OBXNana
Gouging is when a hurricane hits and stores raise the price of water to $15.00 per gallon. We need water and have to pay the price. Free enterprise allows anyone to raise the price to whatever someone is willing to pay. As long as people continue to scoop up property at the rate they are in The Villages, the developer has the right to ask what he charges. Do I like it as a person getting ready to buy? Of course not, but it is his right. It is also my right to not buy. But, it's also an investment that can only appreciate in value as the boomers continue to age and we will be making that business decision.
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Spot on, OBXNana.
Here is part of Wikipedia's definition:
Price gouging is a pejorative term referring to a situation in which a seller prices goods or commodities at a level much higher than is considered reasonable or fair. This rapid increase in prices occurs after a demand or supply shock: examples include price increases after hurricanes or other natural disasters. In precise, legal usage, it is the name of a crime that applies in some of the United States during civil emergencies. In less precise usage, it can refer either to prices obtained by practices inconsistent with a competitive free market, or to windfall profits.