Submitted 1 year ago by L4s@lemmy.world [bot] to technology@lemmy.world
https://washingtoncitypaper.com/article/631461/the-rent-is-too-damn-algorithmic/
The rent is too damn algorithmic — DC Attorney General Brian Schwalb is investigating RealPage, a company that helps landlords set rent prices, for potential antitrust violations::Attorney General Brian Schwalb is investigating RealPage, a company that helps landlords set rent prices, for potential antitrust violations.
While they’re at it, investigate the use of digital price tags on store shelves, especially grocery stores
I would much rather have to deal with digital tags then stupid paper based ones. If they were done properly it should just be a simple “update price” and it sets to both. With paper tags you have employees that don’t update all locations so you get discrepancies.
And with digital tags they can update at any time, so unless you’ve got a video camera running to price that bread was $3.99 and not $4.99 when you picked it up off the shelf…
What about them?
They commonly don’t reflect the actual price at checkout. It’s difficult for consumers to track and catch, and be if apathy (they didn’t get around to changing the prices which are sometimes volatile) or malevolence, it’s still an issue.
All of this inflation is artificial as fuck
Rent went up by 1200 in five years.
I used to put money in a savings account.
Is it antitrust if the algorithm correctly concludes that you can charge infinite money if people can’t live anywhere else?
The issue is that it sets the same prices for all its clients, so they all move in tandem. The more clients in one area using, the stronger the profit for everyone.
This is the same thing as those parties colluding to all raise their prices in tandem, they have just outsourced the collusion.
Streamline your Price Fixing shenanigans with our Tenant Screwer 3000™
Yeah, competitors setting their prices collectively is classic trust. The fact that they all hire a contractor who writes software to set the price, that doesn’t change anything. This is trust and it is against current law.
10% additional tax on any second or more property you own, boom housing crisis solved
Rent increases to compensate for tax hike
Surprised_Pikachu.jpg
Economics doesn’t work like that. Prices are already as high as the market will bear. Few people intentionally leave money on the table.
More likely:
End result: more owner-occupied property, some of the tax is paid by the remaining investors and renters.
Totally agree with this or at the very least penalize anything over a single rental property (in addition to their residence) so that middle class people can still benefit from this while rental corporations get penalized heavily.
Fucking capitalists
Do YARDI next. Or maybe at the same time.
I know someone who worked for them back in the day and let me tell you. Every scummy thing I read I have no proof of but from what I know of the company I believe.
Its a business model that advertises artificial price inflation for its special club of users, but it only affects the poors. This could go either way.
The people that implemented this system knew what they were doing and should be thrown in jail.
We should force apartments to be run as non-profits similar to utilities with strict rent price regulations. Would this discourage new housing? No, it would just shift from developers building rentals to developers building condos.
My apartment uses them. I hope this nails them down.
30mag@lemmy.world 1 year ago
No shit.
Bgugi@lemmy.world 1 year ago
I’m just waiting for the day some corporation sends out a press release that says “lol, you got me bro.”
30mag@lemmy.world 1 year ago
They were interviewing that General on 60 Minutes the other day and asked him what amounted to “Did you commit treason when you made the phone call to China?”
I don’t think the General acted improperly, but, other than Trump, would you expect anyone to give any answer other than “No, of course not” when asked on national television?
HawlSera@lemm.ee 1 year ago
The only time I’ve seen this happen is in an episode of Iron Fist