Final answer:
The exact amount Martin's rent was increased by is not provided, but the situation underscores common issues in housing economics such as power imbalances, price ceilings, and opportunity costs leading to lower housing quality.
Step-by-step explanation:
The initial question regarding the amount of rent increase Martin faced cannot be determined from the provided information. However, discussing the broader economic implications and challenges faced by renters like Martin provides insights into the difficulties that stem from high rental costs and inadequate housing conditions. The dynamics between landlords and tenants, especially when price ceilings are set, often lead to power imbalances and compromises in the quality of housing.
When landlords are constrained by price ceilings, their response may include converting apartments to co-ops or condos, or reducing maintenance on the properties, leading to inadequate living conditions. This scenario underscores the economic principle where opportunity costs must be considered, confirming that nothing comes without a cost, even if it appears to be a benefit.