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It's not their only bad financial piece. The one claiming landlords are all secretly hoarding apartments because algorithms are telling them it'll raise the ren
by astrange 3y ago
It's not their only bad financial piece. The one claiming landlords are all secretly hoarding apartments because algorithms are telling them it'll raise the rent is basically nonsense.
(This is a cartel, which besides being illegal is impossible because all the members are motivated to detect and most of them cannot act on the advice. The sole actual housing cartel in the US is NIMBY zoning laws; you need the force of law to prevent defection.)
- jollofricepeas 3y agoI agree that zoning could be improved. Maybe I don’t understand your comment but algorithmic price fixing is very much a thing across many many industries where participants collude on pricing. If the outcome is the same, it doesn’t matter how you got there whether it was a written note or algorithm created by insiders. Algorithmic price fixing deserves reporting.
- astrange 3y agoThe claim is landlords are using algorithms to keep units vacant to increase prices. They can't do this because most of them only own 1-2 units. But you're still describing a cartel, which can only happen if the number of producers is fundamentally limited, because any new producer doesn't care if the others have to lower prices.