4 ms·

It's not price gouging if the market is uncompetitive and there is a supply shock, because there's no such thing as price gouging.

• asdfasgasdgasdg 5y ago
  I'm not aware of anyone who claims that the housing market is uncompetitive in the economic sense. There are a ton of independent sellers and a ton of independent buyers. Information is not exactly symmetrical but it's pretty close. These are the hallmarks of a competitive market.
  • mirntyfirty 5y ago
    I’d dispute the ton of independent buyers given the amount of bids placed by the top 10 corporations. Even if the bids are rejected it still has a large effect on pricing
    • deleted 5y ago
      [deleted]
    • gruez 5y ago
      >I’d dispute the ton of independent buyers given the amount of bids placed by the top 10 corporations. What's the ratio like? > Even if the bids are rejected it still has a large effect on pricing If they put in a bunch of bids that end up being rejected, doesn't that work in the opposite direction? If you're selling something on craigslist and you get spammed with a bunch of lowball offers, you're not going to think your widget is more valuable. If anything it's going to make you have second thoughts about your original price and make you want to lower it.
  • gruez 5y ago
    >> It's not price gouging if the market is uncompetitive and there is a supply shock, because there's no such thing as price gouging. >I'm not aware of anyone who claims that the housing market is uncompetitive in the economic sense. You guys aren't even talking about the same thing. The parent post is claiming that "there's no such thing as price gouging", period.
    • djbebs 5y ago
      Bingo