medievalmachine t1_ja93gel wrote on February 27, 2023 at 7:21 PM

And all because of illegal price coordinating via software! Where are the arrests?

dynospectrum7 t1_jaa51rl wrote on February 27, 2023 at 11:23 PM

Meh, you sound uninformed. DC is seeing negative rent growth. I know it’s a forbidden neighborhood but look at the pricing in NoMa compared to what this city is used to. And this is with 3-4 more buildings opening up this summer. More housing ftw

medievalmachine t1_jaa61vo wrote on February 27, 2023 at 11:31 PM

I’m uninformed to cite an obscure antitrust lawsuit regarding rent increases nationally? Sure thing. You can just argue on the merits, but this is Reddit I suppose.

NoMoreMonkeyBrain t1_jacjnhl wrote on February 28, 2023 at 1:37 PM

Are you talking about RealPage, or something else? There's a fascinating breakdown in curbed from a few weeks back, but I'd love to see more details elsewhere.

Given three propensities of this sub, I don't think you're gonna find a lot of upvotes, though.

https://www.curbed.com/2023/01/nyc-real-estate-covid-more-apartments-higher-rent.html

medievalmachine t1_jacl3an wrote on February 28, 2023 at 1:49 PM

Yes but I didn’t know names, just half remembered the Washington Post article about the investigation. ProPublica does real good work.

Gumburcules t1_jacwnvk wrote on February 28, 2023 at 3:14 PM

No, it's all because of DC Official Code § 42-3501.01 otherwise known as the Rental Housing Act of 1985.

The DC council created a specific formula governing the amount landlords can raise the rent in that law, and this is the number allowed this year via that formula. Pricing software has literally nothing to do with this at all.

medievalmachine t1_jadb4z1 wrote on February 28, 2023 at 4:49 PM

So they determine that with dice or darts? Are you sure they don’t determine that with market rates?

Gumburcules t1_jadbzq5 wrote on February 28, 2023 at 4:55 PM

So not only did you not read the article, you didn't even read the headline?

> D.C. Tenants in Rent-Controlled Units Could See as Much as 8.9 Percent Increases

It's literally just reporting what the legal maximum rent increase is this year according to DC's rent control laws. Again, pricing software or market rates have nothing to do with the maximum allowable increase, it's the same calculation every year since 1985, "CPI + 2% but no more than 10%."

Imagine trying to be so snarky while demonstrating such profound ignorance.

medievalmachine t1_jadwqt1 wrote on February 28, 2023 at 7:05 PM

CPI includes housing.

Fair enough? It was a tangential outrage comment I threw out there, but it’s absolutely relevant. Monopolistic price fixing and artificial scarcity is occurring in the housing market and that is causing inflation (CPI increases if you prefer).