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US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

klobuchar.senate.gov

151–160 of 168 posts

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#151

Quoted post unavailable.

Monetary policy turned housing into an asset class and ruined it for regular americans

> turned housing into an asset class

comparatively attractive asset class. It was always an asset class, but not a particularly attractive one.

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#152

Earlier quoted context omitted.

> The fact Twitter was able to get away with kicking off a US President without any ramifications is frightening. Your stance is the government should be able to compel private businesses to be mouthpieces for government officials ? Seems pretty authoritarian.

Honestly, Twitter kicking off a sitting President was one of the biggest wins for free speech in a long time. I don't know how people don't see that. This kind of public rebuke of the government will _literally_ get you killed in some countries countries. In many more it will get you disappeared at the very least.

The thing to complain about twitter is that they didn't kick him off years before while nuking accounts that were far less abusive, but waited until he was a lame duck president.

One could read that history as severely undermining your point-- that they were afraid of him until he was on his way out. But I don't think that's true: rather they kept him on because his popularity and toxicity brought a ton of revenue to them, and punted him when they finally expected him to be less profitable in the future.

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#153
post #67

Quoted post unavailable.

> The nastiest one is big tech. True. > These companies should be broken up. True. > The fact Twitter was able to get away with kicking off a US President without any ramifications is frightening. ah, what? You seem to have conveniently left out the fact that he had a significant role in the attempted overthrow of the US government? What do you expect Twitter to do? Just let it happen unchecked? "all enemies foreign…

> You seem to have conveniently left out the fact that he had a significant role in the attempted overthrow of the US government?

Very important to keep him from putting out messages like "I am asking for everyone at the U.S. Capitol to remain peaceful. No violence! Remember, WE are the Party of Law & Order – respect the Law and our great men and women in Blue. Thank you!" and "Please support our Capitol Police and Law Enforcement. They are truly on the side of our Country. Stay peaceful!"

:D

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#154
post #150
post #101

Earlier quoted context omitted.

The fact that you're actually presenting a reasonable solution and you're being downvoted shows how much capitalist propaganda has poluted the mainstream. Either that, or the majority of people here are real estate speculators, which I very much doubt.

I think you might be reading the post differently from the people downvoting it. Why would punitively taxing vacation homes, which are almost always outside of urban / dense-surban locations where there is little housing market congestion and where building additional housing units is straight forward -- do anything to help things? Why would punitively taxing the "ultra-luxury housing supply" do anything substantial…

As in most real-world scenarios, multiple solutions are needed, and it's best to first agree on the goal you want. To me these would be more availability while also disincentivising real estate as an investment vehicle.

I know that's not a direction most people agree on (hitting real estate as an investment), but there really is no other way I see.

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#155
post #107

Earlier quoted context omitted.

Hardly anyone says "I have $200, where can I fly." Usually its "I have to go to X for y reasons, X is already booked and paid for, lets get a flight" at which point you are extorted by the dynamic price model for a flight you must take. It's somewhat hilarious when Spirit in particular overbooks, and tries to offer you money to take a flight some other day, assuming you can just rearrange everything in your life arou…

> Hardly anyone says "I have $200, where can I fly." Not sure about that, there are entire industries around cheap flights for people that are location agnostic. ScottsCheapFlights comes to mind.

But ScottsCheapFlights is a very particular concept and not how most people go on vacation. Even with it people have a vague idea of where they would like to go, just perhaps not when.

For example, I would like to go to a major city in Europe sometime this summer. Which city isn’t urgent to me. The week I go doesn’t matter. Except oh so and so is getting married that week of June and I’ve recently been to Germany so would prefer something else.

Very very few people plan their vacations like this. They would rather pay twice the rate a deal site gives them and plan around school breaks for their kids, know which country they are kicking off their bucket list, have a direct flight from their home airport, etc. We who are willing to book an international flight and only then figure out what our vacation will be give up a lot for our discounted ticket prices.

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#156
post #30

> pricing algorithms to adjust prices on vacant apartments in real time… The program may also induce landlords to charge the rents recommended by the algorithm, putting upward pressure on prices and decreasing the availability of affordable apartments. Wait until she hears about hotels and flights. > The software analyzes non-public data that RealPage gathers from its property management clients, including confidenti…

>This is identical to how employers share salary information.

For me, the difference is that using the same software to set the price based on the non-public information effectively makes it a form of collusion on setting rents, which seems analogous to the illegal practice of employees colluding to cap wages. It's not the same, I know, but has a similar negative effect in that the market is being subverted in some way.

The real question for me is what, if anything, comes out of the investigation. If some new legislation prohibiting the practice comes out, I could see the big landlords simply publicizing that data to avoid any legal issues.

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#157
post #101
post #21

Price controls are ineffective long term but can be a useful stopgap measure in the short term. The only solution to this is dealing with supplyside issues, notably the artificial constraints on housing supply. This is longer term.So the pricing algorithms are a natural reaction to market forces. Here are some more important things you can do in the short term to increase supply: 1. Outlaw (at the local and state lev…

The fact that you're actually presenting a reasonable solution and you're being downvoted shows how much capitalist propaganda has poluted the mainstream. Either that, or the majority of people here are real estate speculators, which I very much doubt.

The only reasonable solution to housing is building more houses. Everything else is either misguided or a purposeful attempt to make housing cheaper for a small subset of people at the expense of everyone else(rent control).

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#158
post #155

Earlier quoted context omitted.

> Hardly anyone says "I have $200, where can I fly." Not sure about that, there are entire industries around cheap flights for people that are location agnostic. ScottsCheapFlights comes to mind.

But ScottsCheapFlights is a very particular concept and not how most people go on vacation. Even with it people have a vague idea of where they would like to go, just perhaps not when. For example, I would like to go to a major city in Europe sometime this summer. Which city isn’t urgent to me. The week I go doesn’t matter. Except oh so and so is getting married that week of June and I’ve recently been to Germany so…

Hm I'm not sure it's very very few as you say. Most people I know also don't know much about the various countries in the world (vacation-wise) and would be happy to go somewhere for a set price (in a set time such as school holidays) rather than a particular destination. In fact, the more avid travelers (rather than casual vacationers) are the ones more likely to pick a particular destination to go to.

I've heard of many people saying, I have 1000 bucks to spend on a vacation, I'd like to go somewhere for that amount during this time.

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#159
post #154
post #150

Earlier quoted context omitted.

I think you might be reading the post differently from the people downvoting it. Why would punitively taxing vacation homes, which are almost always outside of urban / dense-surban locations where there is little housing market congestion and where building additional housing units is straight forward -- do anything to help things? Why would punitively taxing the "ultra-luxury housing supply" do anything substantial…

As in most real-world scenarios, multiple solutions are needed, and it's best to first agree on the goal you want. To me these would be more availability while also disincentivising real estate as an investment vehicle. I know that's not a direction most people agree on (hitting real estate as an investment), but there really is no other way I see.

"Second homes" isn't targeted. Many (most?) second homes aren't investments-- they're vacation homes, in places which aren't hot markets, and will almost certainly lose money compared to just sticking it in a broad market ETF (even with the home leveraged via a mortgage).

> I know that's not a direction most people agree on (hitting real estate as an investment),

Most states have substantially lower and/or increase restricted property taxes for a single owner occupied home, so I don't think you can say that taxing investment properties at a higher rate than owner occupied properties a direction people don't agree on, generally. (California is weird in that it restricts tax increases for all properties, including commercial).

One problem you run into is that most investment properties are rented out and increased taxes on them will be passed onto the tenants, so any increased taxes on these properties is arguably regressive since the tenants tend to be a lower income part of the population.

Re: US reps urge DOJ to investigate anticompetitive conduct affecting apartment rent

#160
post #107

Earlier quoted context omitted.

Hardly anyone says "I have $200, where can I fly." Usually its "I have to go to X for y reasons, X is already booked and paid for, lets get a flight" at which point you are extorted by the dynamic price model for a flight you must take. It's somewhat hilarious when Spirit in particular overbooks, and tries to offer you money to take a flight some other day, assuming you can just rearrange everything in your life arou…

Person 1: "Let's go on vacation in the spring." Person 2: "Sure, where should we go?" Person 1: "How about Japan?" Person 2: "Sounds great, how much are tickets?" Person 1: "Hmm, they're around $1,600 each. That's too expensive. What about going to Amsterdam instead?" That seems like a totally plausible exchange.

Sure, for certain trips. Most trips I'm assuming are obligate. All of my flights have been non negotiable in time and destination in the last few years. Visits to family that align with several schedules, weddings, and funerals.
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