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Part of that is also a fact that renters face the pressure that real estate firms now use big data to manage the rent accross a set of units. They know people w

Part of that is also a fact that renters face the pressure that real estate firms now use big data to manage the rent accross a set of units. They know people will keep paying to avoid the skids so they can keep both rents high, and vacant houses because the over under makes them money. If you had the state / city charge rent to owners on vacant property you'd see rents fall through the floor as realestate companies would quickly pack anyone that could pay something into an structure.

lotsofpulp 2y ago
>If you had the state / city charge rent to owners Also known as sufficient property tax.
bobthepanda 2y ago
There is actually currently a Seattle class action lawsuit on renting because a majority of the corporate landlords use the same big data company to set rents, and the big data company says you must use their rates (and so do the landlords instructing their property managers). It turns out you may not be able to launder price fixing using an algorithm.