JeromePowellAdmirer t1_ixqwkgc wrote on November 25, 2022 at 4:49 PM

Reply to comment by Jahooodie in Algorithmic rent setting service under investigation by DOJ for collusion with landlords by JCwhatimsayin

The market is still the market. This dumb algorithm sets the maximum rent subject to supply and demand constraints. That's why they use the same software across the country and yet rents are cheaper there. You don't even need to look far away. Compare new buildings in Harrison to those downtown. The Harrison ones are not priced the same as downtown despite clearly using the same algorithm, why, because of supply and demand. Either way it's collusion. But it doesn't mean supply and demand suddenly doesn't exist.

objectimpermanence t1_ixuydgq wrote on November 26, 2022 at 3:59 PM

So many people are willfully ignorant about basic economics. I’m sick of trying to explain it.

In every thread on this topic, it’s always the same people who refuse to acknowledge the facts no matter how many times people try to explain it.

Anyone who thinks that we need to do anything other than build more housing when there’s a housing shortage is engaging in wishful thinking.

It’s the left’s version of COVID denial. And it’s one of the defining social problems of our time.

That’s why San Francisco, which is supposedly one of the most “progressive” cities in the country, has a massive housing problem where even middle class people struggle to find adequate housing because they simply refuse to build enough new housing.

Now the same story is playing out in cities across the country. It’s not that developers and landlords have suddenly gotten greedier then they were a couple decades ago. It’s a problem of our own making.