Organized Money The Wild World of Surveillance Pricing with Lee Hepner
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May 29, 2025 In this lively discussion, Lee Hepner, an antitrust lawyer at the American Economic Liberties Project, dives into the unsettling world of surveillance pricing. He explains how companies manipulate your data to set personalized prices, often harming consumers. Listeners learn about the RealPage scandal, where landlords coordinated rent hikes, and how this tactic is emerging in various sectors, from retail to meatpacking. Hepner stresses the urgent need for lawmakers to address these issues, as dynamic pricing practices continue to blur the lines of fairness and competition.
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RealPage Rent-Fixing Scheme
- RealPage software was used by landlords to collude on rent prices during a housing crisis.
- It allowed coordinated, supra-competitive rent hikes, worsening the housing shortage.
Artificial Housing Shortage Impact
- Post-RealPage implementation, rents increased despite rising vacancies, a counterintuitive market signal.
- This suggests artificial supply restrictions aimed at keeping rents high, harming tenants.
Odd Lease Durations Example
- Some landlords manipulated lease durations (11, 13, 15 months) to stagger availability and control housing supply.
- This tactic aligned with software recommendations to limit market supply and maintain high rents.