Good to know, thank you. |
You’ll be back to lobbying for the big landlords to get more subsidies and tax breaks soon enough because they’ve convinced you that everything will be fine as long as their profits are bigger. YIMBYs are useless in solving the housing crisis because they take their talking points from the same people causing it. |
Personal attacks don’t answer anything that PP said. In free markets, more supply -> lower prices -> lower profits. Yimbys want renters and buyers to have more leverage against landlords and sellers to negotiate lower prices. Fewer landlords getting fat profits, fewer sellers reaping windfalls, more renters and buyers enjoying lower costs. |
Thanks for Econ 101 explanation. I was absent that day in grad school. That all works when the businesses responsible for most of the new construction aren't colluding to keep prices high. None of what you advocate actually works because the market has failed and requires more aggressive interventions to discourage developers from creating shortages. |
I went to see several apartments belonging to some of the companies. The prices changed faster than minutes. The leasing office said they change them along the line with neighboring apartments.
They know live when the others change and they change theirs accordingly. I went with a private landlord instead. |
YIMBYs are so clueless they don't realize that price fixing nullifies all of this. |
That’s not what the complaint says. Only some of the increase in rents can be blamed on price fixing. The rest is market forces. PP said that already and you completely ignored their arguments about owner occupied properties being completely unaffected. If the AG wins, the landlords pay big damages, and the court prohibits fixing prices through RealPage or otherwise, we’ll still be stuck with the same undersupply that’s the biggest contributor to high rents now. |
Rents increased 50 to 100 percent faster than they would have without price fixing. If you back out the inflation, rents went up a little faster than inflation. If you read the complaint, you'll see that RealPage clients are able to raise rents even when vacancies go up. Collusion rendered oversupply useless as a rent moderator. Thanks for playing. |
In addition to recommending rents, RealPage software recommends taking habitable units off the market to preserve undersupply. Is this OK? |
Um, it’s obviously not OK. |
That last statement doesn’t follow from your premises. In fact, saying that price fixing made rents “increase faster than they would have without price fixing” acknowledges that rents still increased. Whether they increased with inflation is beside the point because prices for existing apartments are based on supply and demand, not inflationary pressures. Which is why a bunch of cities have seem almost no rent growth despite inflation - they built enough to match demand. Why won’t you talk about the ownership market? |
GREAT. Now UDR needs to be sued again some more for FORCING gigstream internet on all their residents even if they already had another provider. This seems illegal six ways until sunday. I thought the city of alexandria was suing them but haven't heard much about it as of late. |
price fixing? give me a f*kcing break. this lawsuit is utter and complete nonsense. this is what it looks like when elected leaders pull the wool over the eyes of voters. |
You want to talk about the ownership market? Fine. HUD assesses it’s tight but ownership is so diffuse that collusion is harder. We do still see developers limiting supply in that market though by staging subdivision work even when not legally required to do so, so there is still some degree of artificial supply limitation in that market. In contrast, HUD assessed that the rental market was slightly soft but prices went up rapidly even as vacancies also increased during the study period. One behavior that could have caused that odd outcome was price fixing. (And broad inflation isn’t a driver of rents but it’s useful for context and because some of landlords’ costs are affected by inflation and because tenants’ ability to pay increases as wages rise.) |
This lawsuit makes zero sense. It's a lot of hand waving and shouting "price fixing." There is literally no chance it is successful. |