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It very well could be price fixing based on much of what has been talked about over the last several months about this. If RealPages is managing all of these pr
by nerdjon 3y ago
It very well could be price fixing based on much of what has been talked about over the last several months about this. If RealPages is managing all of these prices for properties in a given area they are in a position to inflate prices gradually over a period of time.
It is a natural feedback loop of an algorithm like this. If it is designed to look at the properties around your location, and you try to get the most money for your property, over time those prices will go up as the algorithm tests what people are willing to pay for a given unit/building/location.
You could argue that this may have already happened with humans, but at a different pace and the algorithm is literally feeding its own inflated prices into itself.
Let's also not ignore that we are talking about housing here, there is a strong ethical side to not trying to price people out of places to live.