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Except they cannot increase rents when there is enough supply for a market to actually work.
by brazzy 7mo ago
Except they cannot increase rents when there is enough supply for a market to actually work.
- testing22321 7mo agoThe market will remain irrational longer than… Of course they can when they own them all. See De Beers diamonds. Buy them all, keep the price artificially high.
- larsiusprime 7mo agoDiamond prices are famously crashing now due to artificial lab made diamonds (increased supply)
- nroets 7mo agoThe De Beers cartel was able to avoid anti trust scrutiny because the best reserves are outside (Africa/Canada/Russia) of the most lucrative markets (US/Europe/Asia). Corporations control only a small faction of housing supply.
- matkoniecz 7mo agoInsanely stupid restrictions on residential construction make it easier.
- exabrial 7mo agoThey can only do that (own them all) with government assistance. See De Beers diamonds, who leveraged the legal system to create a monopoly. The solution is to build more housing and get the government out of the picture.