And immediate consequences will result for the violators I assume?
this post was submitted on 03 Mar 2024
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I just read the joint legal brief, and, I have to say up front that I am not remotely a lawyer… but the document specifies how and where to identify price fixing, and that motions to dismiss those charges are to be dismissed.
So it doesn't dictate the penalties for price fixing (I assume that's on a trial by trial basis—but again, not a lawyer), but it makes it impossible(?) to ignore, and suggests that (to me), users of 'RENTMaximizer' will be in the crosshairs… while not actually stating that.
Thanks, friend. My optimism has increased by 3-5%. It now sits at 3-5%. (Seriously, thanks though. That's some quality researching)
There will be an investigation into the algorithms you use to estimate optimism, to make sure you do not collude with Hopelords to inflate optimism quotients and rob hopees through conspiracy. Do not resist.
Does penalties in this case also mean compensation of the renters, whose wealth has been potentially robbed through illegal practices?
Mm… again not a lawyer, but I think that question goes beyond the scope of the document.
It basically gives the government permission to hold renters accountable for using software to artificially raise prices. What form that accountability takes is not addressed. Either that’s covered under existing collusion laws or is up to the courts.
So, it’s an essential ingredient to the cake that you’re describing… but unless prosecution (or whatever the term actually is) brings that up (I assume?), it won’t happen.
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The AZ Attorney General seems to be working on it at least.
Lots of people act like justice never comes from the Federal government to corporations, as if FaceBook isn't paying Billions in FTC fines for the next 2 decades. Punishments get dolled out all the time, but nobody talks about it.
Why would people care? Even if we assume the fine isn't so trivial it's just a cost of doing business people don't get that money nor does the federal government turn around and say "Good news everyone this means we can afford universal healthcare now!"
Even if it's not as good as a criminal prosecution, it definitely does a lot to keep for profit companies in line. Without these various fines and rulings, the world would be a much worse place.
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If you have any faith in the government to address maximizing profit through rent, you haven't been paying attention to who they serve.
A capitalist economic system will always lead to capitalists in power.
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Without hope, all is lost. I would rather hang on to a shred of hope than give up.
Society shouldn't be set up to keep people renting for their entire lives. It was like 3 generations ago that you could realistically get a home in your 30's on a single paycheck.
Three generations ago the government was giving land away to anyone that could develop it.
Yeh, but unregulated capitalism
Can't speak for the veracity, but I've got two magnets with the following:
1934
Average income = $1,601.00
Loaf of bread = $.08
Gallon of gas = $.10
Gallon of milk = $.45
New car = $625.00
New house = $5,972.00
1958
Average income = $4,650.00
Loaf of bread = $.19
Gallon of gas = $.24
Gallon of milk = $1.01
New car = $2,155.00
New house = $11,975.00
Interesting that pay tripled, staples like food and gas doubled, and the price of a car quadrupled in that time. Houses also dropped from 4x pay to 2.5x pay
Well the first one was in the depths of the Great Depression and the second one is the beginning of the post war boom. I would hope it looks better.
Home loans at that time were 10 year mortgages. Homes were so cheap that you could pay them off quickly. Of course homes now are much better made. Back then you might build it yourself or with some friends. A lot of homes from that time suck.
Not really arguing against cuz I've just got this one subjective experience, but my aunt used to live in a Sears house (bought from the catalogue) and that mf was solid as hell.
You are only seeing the one that survived. That's the definition of survivor bias.
Also, the electric system, pipes, roof, foundation, etc. wouldn't be up to code today. And "code" is the minimum level of quality that's legal. Every house built back then would be uninhabitable today, either because of safety issues or because of comfort issues.
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Two if you're a millennial.
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Time to short RealPage.
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