3 ms·
> This effect only works if ownership is concentrated or there is otherwise a mechanism for collusion This is the current state of all modern economies, so thi
by bugglebeetle 3y ago
> This effect only works if ownership is concentrated or there is otherwise a mechanism for collusion
This is the current state of all modern economies, so this equates to “it works.”
- paulgb 3y agoMaybe in some small-/mid-size housing markets where rentals are not the main form of housing. In a city like NYC, the rental market is way too large for anyone to control it. A good example was during the pandemic when vacancies shot up, rents came way down. Landlords were not “holding the line” at previous prices, presumably because they knew that renters would just go to a competing landlord.