David777
Well-known Member
- Location
- Silicon Valley
A reason we have excessive real estate inflation on rental units is in part due to a$%^&!@ real estate corporations using AI software to set rents as high as they can to maximize profits. There has been lawsuits in federal court, and today San Francisco also filed suit. The real estate industry is the root cause of several USA ills and the below is just one example of how they are doing so. And politicians are not surprisingly, complicit in quietly making sure nothing is done and keeping the public unaware. Although there is an active federal investigation, one can expect that is being monkeywrenched by Wall Street types.
https://www.mmmlaw.com/news-resources/the-real-risks-of-using-realpage/
RealPage became the nation’s dominant provider of such rent-setting software after federal regulators approved [example of politician involvement] controversial merger in 2017, a ProPublica investigation found, greatly expanding the company’s influence over apartment prices. The move helped the Texas-based company push the client base for its array of real estate tech services past 31,700 customers.
The impact is stark in some markets. In one neighborhood in Seattle, ProPublica found, 70% of apartments were overseen by just 10 property managers, every single one of which used pricing software sold by RealPage. To arrive at a recommended rent, the software deploys an algorithm — a set of mathematical rules — to analyze a trove of data RealPage gathers from clients, including private information on what nearby competitors charge.
First, we need to decouple wealthy foreign investors from buying our housing that is often through Wall Street REITs that shield foreigners, making them invisible from direct housing purchasing statistics. That works to make it appear to the American public that few foreigners and their legal entities are involved, a huge lie one regularly reads when anything is made public on these issues. Next we need to stop them buying up mobile home parks with its defenseless low income and senior residents. And we need to stop the practice of almost only expensive McMansion style housing being built that they use excessive illegal immigration domino style to squeeze out maximum money from our working class citizens.
https://www.mmmlaw.com/news-resources/the-real-risks-of-using-realpage/
RealPage became the nation’s dominant provider of such rent-setting software after federal regulators approved [example of politician involvement] controversial merger in 2017, a ProPublica investigation found, greatly expanding the company’s influence over apartment prices. The move helped the Texas-based company push the client base for its array of real estate tech services past 31,700 customers.
The impact is stark in some markets. In one neighborhood in Seattle, ProPublica found, 70% of apartments were overseen by just 10 property managers, every single one of which used pricing software sold by RealPage. To arrive at a recommended rent, the software deploys an algorithm — a set of mathematical rules — to analyze a trove of data RealPage gathers from clients, including private information on what nearby competitors charge.
First, we need to decouple wealthy foreign investors from buying our housing that is often through Wall Street REITs that shield foreigners, making them invisible from direct housing purchasing statistics. That works to make it appear to the American public that few foreigners and their legal entities are involved, a huge lie one regularly reads when anything is made public on these issues. Next we need to stop them buying up mobile home parks with its defenseless low income and senior residents. And we need to stop the practice of almost only expensive McMansion style housing being built that they use excessive illegal immigration domino style to squeeze out maximum money from our working class citizens.
