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Yeah I see the app just as a "public stock market" of real estate. If information is free, this is what it'll look like. We don't call stock market a price fixi
by mcmoor 3y ago
Yeah I see the app just as a "public stock market" of real estate. If information is free, this is what it'll look like. We don't call stock market a price fixing scheme aren't we?
But the other comment says something about coercion. Now that's what price fixing is.
- kristjansson 3y ago> coercion yup, puts them way over the bar here. But there's a meaningful distinction between posting transactions, and recommending prices for new transactions. A public market does the former, but relies on participants to ultimately set prices. The latter is probably fine too, iff the prices represent some good-faith estimate of a 'fair' market price. However, recommending systematically inflated prices with the intention of raising the price level globally is probably price-fixing on its own, even if there's no coercive element.