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I’m less concerned that it is using AI. I’m more concerned how both the vendor and the landlords are dealing with the feedback loop when the inevitable error o
by thephyber 2y ago
I’m less concerned that it is using AI.
I’m more concerned how both the vendor and the landlords are dealing with the feedback loop when the inevitable error occurs.
And as far as I’m concerned, I would like the government to mandate data transparency and create the data clearinghouse to facilitate it. Requires APIs be used and open protocols. That’s how we “increase competition and drive down costs for the consumer”. Not just for rents, for insurance, services, and products.
- deleted 2y ago[deleted]
- aaronblohowiak 2y agoNo, reduce barriers to increasing housing supply. You can’t fix the gap between housing starts and population with more barriers to building new housing.
- Retric 2y agoThere’s no incentive to increase housing supply in many markets when existing housing stock is algorithmically unavailable for rent to increase rent on what is available. You can watch some apartment complexes list a sudden vacancy as soon as an apartment gets rented. Basically algorithms would lower prices if there was excess inventory, but landlords figured out they would stop doing so if they only list a subset of apartments. Obviously shortages do occur, but you often see consistent prices even when bursts of new housing come online with a new apartment complex.
- Gigachad 2y agoSo apartment rents are overpriced? Then someone else is incentivised to build a new building, undercut the competition while still making profits since the existing stock was overpriced. What we should do is mandate that all rent prices be published, and then someone can build a browser extension or website that shows the average and historical prices so renters can quickly spot overpriced rentals.
- Retric 2y ago> Then someone else is incentivised to build a new building, undercut the competition while still making profits since the existing stock was overpriced. Not when there’s a glut of housing. Undercutting by a new complex results in those same algorithms lowering prices and people aren’t going to move without any incentives, so you end up with a largely vacant complex... Don’t get me wrong rents aren’t completely uncoupled from reality. But they rarely fall because renting 80% of your stock at historic prices is better than a price war resulting in you still renting 80% of your stock at new lower prices. > spot overpriced rentals When prices are manipulated all you’re going to see is the manipulated prices.
- Eddy_Viscosity2 2y agoWouldn't fees for un-used housing fix this? Put a cost on with-holding units on the landlords. Otherwise this is an externality where the costs of with-holding is paid by the people who can't find a place to live.
- Retric 2y agoYou might be able to make something like that work, but it without care it would discourage new housing and incentivize removing less desirable properties. A better option might be a tax on unlisted properties, but that’s harder to enforce as renovations after someone leaves isn’t a fixed time period.
- hkt 2y agoSupply is becoming secondary to credit availability and inheritance - those are what drive prices. We can now borrow more than ever, and a decisive advantage in housing is having rich parents.
- tmpz22 2y agoSorry the department of government efficiency just fired the department capable of doing that.
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