AI software owned by a private equity firm costs U.S. renters an extra $3.6 billion per year, artificially driving up rents and increasing housing insecurity. We criminalized homelessness when we should’ve criminalized price gouging housing instead. popular.info/p/ai-costs-a... - ThreadSky

darrigomelanie.bsky.social • 83 days ago

AI software owned by a private equity firm costs U.S. renters an extra $3.6 billion per year, artificially driving up rents and increasing housing insecurity.

We criminalized homelessness when we should’ve criminalized price gouging housing instead.
https://popular.info/p/ai-costs-american-renters-over-36

Comments

drjulies.bsky.social•83 days ago

In practice, American capitalism has effectively defined criminality = not making a profit and if you make a profit then it cannot be a crime, regardless of the actual laws written down

spinozazsagabor.bsky.social•83 days ago

There is one super simple easy as f—k trick to fix this.

Tax empty units. That’s it. If you don’t rent it out in 3 months, you will pay 25% market rental rate as a tax each month until you do. Voila! Solved!

https://unitedwaynca.org/blog/vacant-homes-vs-homelessness-by-city/

The “housing shortage” narrative is a scam.

al3x4nder.bsky.social•82 days ago

This is a very bad policy idea. By making housing units a potential liability you disincentive anyone to build more and so choke supply. It would increase prices in the long-term

dirtequity.bsky.social•82 days ago

The problem is more nuanced than what you're both making it out to be.

The problem are realty entities that capture these properties with their enormously untaxed capital & they hold the properties empty as if they were appreciating stock.

They're kept empty because no maintenance = profit margin.

al3x4nder.bsky.social•82 days ago

I never meant to suggest the problem is simple, it’s a nuanced issue and innovative policy ideas are welcome. All I said, and stand by, is that the particular policy idea above is a very bad one and, however well-intentioned, would backfire

dirtequity.bsky.social•82 days ago

It's a bad policy because they're using a broad brush to suggest taxing properties. If it was a meaningful suggestion that would be aimed at the realty companies which are treating housing as an appreciation scheme.

Actions like taxing these realtors & even repossession are valid & overdue.

upyourzone.bsky.social•82 days ago

this is not a solution. Vacancy taxes have been put in place in numerous places and it hasn't solved jackshit. Supply is the problem and increasing supply is the solution.

slucy.bsky.social•83 days ago

It's very good this has been busted up but it's only 1.5% of the rental market, it's not the main driver of high rents.

(Bad building codes and bad zoning are)

searching4serenity.bsky.social•83 days ago

🤮🤬🤮🤬🤮🤬🤮🤬

ninetoes81.bsky.social•81 days ago

Or we could actually legalize building housing but I guess it's easier to whine and blame all of your problems on an evil boogeyman instead.

sarahbreau.bsky.social•83 days ago

📌

ej23.bsky.social•82 days ago

It is illegal, they're literally being sued under antitrust law.

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