Dare ObasanjoJun 20, 2024

This article is meant to be an exposé of how rents keep rising 10-20% each year because landlords use the same price setting software.

However it explains that landlords get loans from banks who assume rents will go up that much to justify the loans.

Blaming the wrong culprit.

If every landlord uses an app that says raise rents over 10% each year and does so, it seems there’s a broader structural problem than recommendations from an app.

https://prospect.org/infrastructure/housing/2024-06-18-how-algorithm-turned-apartment-pools-green/

How an ‘Algorithm’ Turned Apartment Pools Green

RealPage, the rent-fixing software company currently under FBI investigation, also has apps for bogus fees, monetizing vacant apartments and inflating toxic property bubbles.

The American Prospect
Show threadklausfiend has moved

@carnage4life Pressure from banks isn't the whole story, but also -- monopoly control of anything is virtually guaranteed to lead to abuses. This is why we generally agree as a society that monopolies are bad:

https://www.thebignewsletter.com/p/monopoly-round-up-fbi-raids-big-corporate

Monopoly Round-Up: FBI Raids Big Corporate Landlord Over Nationwide Rent Hikes

I’ll get to the good and bad news of the week, but first I want to note the big story - Donald Trump’s conviction by a jury in New York - and a little story with big implications - the Federal Bureau of Investigation raiding a corporate landlord in cahoots with a nation-wide rent-fixing cartel that affects up to 16 million apartments.

BIG by Matt Stoller
Jun 20, 2024 at 9:52amWeb