We discuss a recent investigation by ProPublica into the convergence of real estate, private equity, and algorithmic pricing as they profile a particularly odious company (RealPage) that is selling a technology (YieldStar) to property management companies, which directly leading to severe upward pressures on rental pricing and vacancy rates. Troubled by real estate companies extracting higher margins out of renters in a tight market in ways that raise red flags of collusion? Well, just blame a guy named Bob.
Stuff we reference:
••• Rent Going Up? One Company’s Algorithm Could Be Why. https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
••• Senator Seeks Antitrust Review of Apartment Price-Setting Software https://www.propublica.org/article/yieldstar-rent-increase-senate-antitrust-apartment
••• Company That Makes Rent-Setting Software for Apartments Accused of Collusion, Lawsuit Says https://www.propublica.org/article/realpage-accused-of-collusion-in-new-lawsuit
••• RealPage Accused Of Price-Fixing In Student Housing Market https://www.law360.com/real-estate-authority/articles/1546168/realpage-accused-of-price-fixing-in-student-housing-market
••• JP Morgan Wants to Make Tenant Data Available to Every Landlord https://www.vice.com/en/article/k7bkyn/jp-morgan-wants-to-make-tenant-data-available-to-every-landlord
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Hosted by Jathan Sadowski (www.twitter.com/jathansadowski) and Edward Ongweso Jr. (www.twitter.com/bigblackjacobin). Production / Music by Jereme Brown (www.twitter.com/braunestahl)