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54 sats \ 1 reply \ @thecommoner 5 Jun \ on: FBI Searches Property Management Company in Rent Price-Fixing Investigation econ
The "algo's" are just the latest tool in the landlord's pocket which helps them continue to be able to drive rent's up and up (increasing their profit) and their ability to buy more properties and wash and repeat....just remember this system of the landlord's/owner's is built upon a FIAT model of extracting value from its "customers" who are beholding to them due to their need for housing....under a Bitcoin business model....I think this all changes....this paradigm of extraction becomes one of distributing value to as many as possible....at least that is the way I am continuing to think about it and am operating my building on...or at least slowly transitioning my building to....
I don't disagree with your assessment re it being part of the fiat system. I also hope bitcoin improves things. I manage predominantly small retail centers, with a smattering of apartment buildings, offices, and single family. I am not using any algos for rent. Frankly, it's difficult to even break even at this point. We're constrained from raising rents for the simple reason that our tenants are struggling too. Meanwhile, expenses have soared ridiculously. This algo scapegoating seems to ignore the fact that landlords are naturally constrained by the market.
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