Big landlords used software to collude on rent prices, DC lawsuit says

Re:Big landlords used software to collude on rent prices, DC... by jpalawaga on Thursday November 02, 2023 @01:17PM (#38116870)

that is a very easy price to calculate, and if you've done the calculation, you've noticed that landlords are not being realistic about things.

at this point, a lot of them are not adjusting rent down because it will reflect on their property value, which is an additional hidden variable in the equation.

It should not be profitable to keep property empty. It is a drain on society.

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Re:Big landlords used software to collude on rent prices, DC... by CapstanRoller on Thursday November 02, 2023 @01:23PM (#38116974)

>It is a drain on society.

This does not factor into any calculation about housing prices, unfortunately, and will likely never be factored in until there's a literal revolution (highly unlikely).

Just like pollution, the homeless are either ignored or bulldozed out of sight and out of mind.

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Re:Big landlords used software to collude on rent prices, DC... by michaelmrose on Thursday November 02, 2023 @01:47PM (#38117390)

Here is a fun factor. A property's value is largely driven by how much rent it can bring in and its loan is based on that value. If rent goes down enough it could effect the value and ultimately the loan which is premised on its value. Nobody wants to be the bank with a 5M loan on a 4M property. In fact normally they don't want to loan more than 70% of the value of the property.

https://www.c-loans.com/loan-to-value-ratio-for-commercial-l...

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