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Using AI for market price discovery actually sounds like a valuable use case.

by BluSyn 2y ago

teitoklien 2y ago
not when its anti-consumer, these ideas work in free market with multiple suppliers who can upscale and compete. Real estate is not a free market, due to building regulations, insane municipality fees to pay upfront for housing units (for example, in canada a lot of provinces require housing developers to pay 100k+$ per 2-3bhk apartment upfront before even completing and building housing units, for 4 floor, 3 apartments every floor, thats 100k * 4 * 3 = 1.2 Million$+ in FEES alone before even selling a single unit !) Plus these systems are being used to force sellers to algorithmically collectively raise rent prices , to max the revenue collected as possible. This is literally anti competition, anti free market, distributed oligopoly price-fixing like behaviour.
- api 2y ago
  Nice little detail about Canada’s system. It explains how a place with so much land can have such unaffordable housing. It’s a cartel.
  - nick__m 2y ago
    Many things in Canada are a cartel: telecommunications, media, retailers... That Housing is becoming one to don't surprise me at all.
    - teitoklien 2y ago
      Housing is the largest cartel in Canada, Retail or Media doesnt work in money laundering. Canadian housing stock is literally used to whitewash illegally earned cash internationally (but especially china), and they influence politicians and municipalities to put in place laws to stifle housing construction. Canadian housing is used by international criminals as a store of value instead of gold or other stuff, it’s a very popular method of money laundering. It’s insane, none of this is free market, like some folks are obnoxiously touting in this thread, this is not free market, not pro-competition, not market decided pricing. Homes should be for living in, just like Cola is used as a consumable, not as gold/bitcoin to store value, it’s being made this way by Politicians stifling the market with insane regulations preventing homes from even being built.
lenerdenator 2y ago
Of course it is. But if your only standard for whether or not something should be done is "does it create monetary value", you would do anything to get that value anyways. Which is why we have to have regulations to prevent that from happening, because humans will do some pretty screwed-up things to get money.
ushiroda80 2y ago
It should never be used for essential goods like housing and healthcare.
- bdangubic 2y ago
  what else it should be used? also who makes these decisions? should we form a committee to decide what it can and cannot be used for? US only people make decision or we let UN-like entity decide? what is the punishment for using it for unapproved things - death penalty?
  - jackvalentine 2y ago
    Relax mate. You’ve gone from 0-100 so fast you may have a whiplash injury.
  - lenerdenator 2y ago
    > should we form a committee to decide what it can and cannot be used for? We already do that. Corporate boards. Every other Western nation has figured out some level of this and people in the US are still asking "who does x?" with a slippery slope argument implied.
    - bdangubic 2y ago
      Corporate boards decide what I can or cannot use AI? Unless my wife is a member of this committee I’d say I am not covered by this :)
deleted 2y ago
[deleted]

Using AI for market price discovery actually sounds like a valuable use case.

by BluSyn 2y ago

Using AI for market price discovery actually sounds like a valuable use case.

not when its anti-consumer, these ideas work in free market with multiple suppliers who can upscale and compete. Real estate is not a free market, due to building regulations, insane municipality fees to pay upfront for housing units (for example, in canada a lot of provinces require housing developers to pay 100k+$ per 2-3bhk apartment upfront before even completing and building housing units, for 4 floor, 3 apartments every floor, thats 100k * 4 * 3 = 1.2 Million$+ in FEES alone before even selling a single unit !) Plus these systems are being used to force sellers to algorithmically collectively raise rent prices , to max the revenue collected as possible. This is literally anti competition, anti free market, distributed oligopoly price-fixing like behaviour.

api 2y ago
Nice little detail about Canada’s system. It explains how a place with so much land can have such unaffordable housing. It’s a cartel.
- nick__m 2y ago
  Many things in Canada are a cartel: telecommunications, media, retailers... That Housing is becoming one to don't surprise me at all.
  - teitoklien 2y ago
    Housing is the largest cartel in Canada, Retail or Media doesnt work in money laundering. Canadian housing stock is literally used to whitewash illegally earned cash internationally (but especially china), and they influence politicians and municipalities to put in place laws to stifle housing construction. Canadian housing is used by international criminals as a store of value instead of gold or other stuff, it’s a very popular method of money laundering. It’s insane, none of this is free market, like some folks are obnoxiously touting in this thread, this is not free market, not pro-competition, not market decided pricing. Homes should be for living in, just like Cola is used as a consumable, not as gold/bitcoin to store value, it’s being made this way by Politicians stifling the market with insane regulations preventing homes from even being built.

lenerdenator 2y ago

Of course it is. But if your only standard for whether or not something should be done is "does it create monetary value", you would do anything to get that value anyways. Which is why we have to have regulations to prevent that from happening, because humans will do some pretty screwed-up things to get money.

ushiroda80 2y ago

It should never be used for essential goods like housing and healthcare.

bdangubic 2y ago
what else it should be used? also who makes these decisions? should we form a committee to decide what it can and cannot be used for? US only people make decision or we let UN-like entity decide? what is the punishment for using it for unapproved things - death penalty?
- jackvalentine 2y ago
  Relax mate. You’ve gone from 0-100 so fast you may have a whiplash injury.
- lenerdenator 2y ago
  > should we form a committee to decide what it can and cannot be used for? We already do that. Corporate boards. Every other Western nation has figured out some level of this and people in the US are still asking "who does x?" with a slippery slope argument implied.
  - bdangubic 2y ago
    Corporate boards decide what I can or cannot use AI? Unless my wife is a member of this committee I’d say I am not covered by this :)

deleted 2y ago

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