Breaking Points with Krystal and Saagar 6/4/24: FBI Raids Corporate Landlords, IDF Likely Killed Four Hostages, MAGA Chinese Outlet Exposed For Money Laundering
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Jun 4, 2024 
Ben Smith, Editor-in-chief of Semaphore and former journalist, joins to discuss significant current events. They unpack the FBI's raid on corporate landlords, exploring allegations of price fixing and its implications on housing affordability. The tension surrounding the IDF's actions in the hostage situation is also discussed, alongside complex negotiations in the Israel-Hamas conflict. Lastly, they examine media ownership trends and the fallout from the Epoch Times' recent fraud controversies, all with an insightful and entertaining twist.
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Algorithmic Price Fixing
- RealPage software is used to set rental prices, contributing to rent explosions in cities like Atlanta.
- This algorithmic price-fixing, similar to cartel behavior, keeps rents high even with vacancies.
FBI Raids Corporate Landlord
- The FBI raided Cortland Management, a corporate landlord, for alleged algorithmic price-fixing.
- This investigation marks a return to antitrust enforcement not seen since the early 2000s.
Rent and Inflation
- Rent increases have significantly outpaced wage growth, becoming a key driver of inflation.
- Despite some discounts returning, previous lower prices are unlikely to return due to corporate profit addiction and high interest rates.