@@KeefChief_like people have a choice. Wages are lower than the cost of living how are people going to even save up enough to move their family somewhere else to hopefully find cheaper rent and a job? Places with lower rents usually also have lower wages so it doesn’t make a big difference and jobs are harder to find. I live in a place like that but rent is still 2.5k a month for a 4 bedroom, 1.9k a month for a 3 bedroom. People with families who had kids 4 years ago before rents doubled,and they doubled in about 2 or 3 years span even here, are screwed. You have to house your family.
The Democrats proposed legislation to force private equity to sell off the masses of homes they grabbed up, but we need Democrat majorities in the House and Senate as well as President to ever get it passed.
@@DJRenee No, you give them anything to work with and they will find a way to price fix. Even still, they could just start buying under their name and do the exact same thing "outside" of the corporate name.
@@kathleens7131 Especially the apartments. It's gross that a tiny little studio is upwards of 1.5k to 2k a month. That would leave someone earning 15/hr barely any money to work with after just paying rent, forget about utilities.
Yes, ripping off and price gouging Americans through collusion and price fixing has become a business model across multiple industries. As individuals, we have to play by the rules paying insurance and taxes but the companies get to cheat. What a country, eh?
oligopolies is where uncontrolled capitalism ends up when Rockefeller broke the law by have a corporation in more than two states it should have been stopped.
@@Praisethesunson they are using algorithms to up the prices above median income the area. It happened in my area in florida. I lived in lower middle class neighborhood. The rent for a one bedroom unit went from 600 dollars to over 1500 a month. Ridiculous.
How was this not obvious!!?? I've been saying it since they reopened the country and the prices on everything were obviously being artificially inflated. I'm not that smart, but literally always years ahead of my "peers." This is class war and my side is asleep.
If any of these corporate land owners end up having a criminal trial then they are beyond fucked. There isn’t a jury in this country that would acquit these monsters regardless of the charges.
Remember that FINES are just the cost of doing business. They need to send people to jail to make a difference. Senate investigators were told by Wall St middle management while investigating the GFC that all the abuses would continue until a bankster CEO got indited and sent to jail.
@@Dadnatron Just like the 2008 financial crisis. No one went to jail and the finds were 0.0000005% of the profits they made. Boy were really showed them...............NOT!!!!
Absolutely, it's impossible to have inflation when you're record high profiting. This is called price gouging. Left my old apartments because of this trash. Whole United States corp. Is a sham
@colemanjr or that covid lockdowns wrecked everything and now we all get to deal with inflation for 20 years. Sensible people knew you couldn't just lock down things and not expect supply side problems. But.."if it just saves 1 life" 🙄
I wasn't aware that Vanguard was in the real estate rental market. Edit: I thought you meant vanguard the mutual fund company. I see Vanguard properties now.
Rented in atlanta from 2020-2023, started out at 1300 / mo for a 2b2ba. After the first year, price jumped to 1400 in 2021 and jumped to 1800 in 2022. If we had renewed in 2023 instead of moving out, I believe it would have gotten to $2000 for the same exact unit we had been in the entire time. The rent scheme is insane. We were fortunate to be able to buy a home in 2023 and escape that nightmare.
It’s not a scheme. Property taxes, insurance, and maintenance costs went up 40% since Biden fucked the dollar. The rent needs to cover costs with a small profit to carry the property and tie up debt/cash.
As some one has worked for a property management firm, I can tell you not only is it real page but also just owners of properties just wanting to squeeze every single penny out of you for their profits. The way that these people speak about the average person/renter is absolutely DISGUSTING. They are so psychopathic it’s sickening.
We love and appreciate the good renters, and we talk shyt about the bad ones. Also yes, we're trying not to lose money because we're living in the same economy as everyone else, but most of us are fair about it. Karma's a thing.
The greed has made so many nasty. Im glad these butt heads are getting checked. Theyre ruining peoples lives and shaming them at the same fricking time.
Was talking with someone who used to work in an apartment complex leasing office years ago, and part of her duties were to call other apartment complexes each week to see what their pricing was. She was aware of other complexes that did the same thing. It wasn't so they could undercut their competition.
Actually, this report proves that the Biden administration is addressing the problem. He has made some surprising moves as president that are not in line with donors such as lowering or eliminating bank junk fees and getting student loan forgiveness for more than 4.7 million despite Republicans fighting it. We are far better off with blue, not red.
@@dr.laykyle9084 RFK Jr got $25 million from just one man, a banker. RFK Jr received $14 million from a security firm. RFK Jr received $4 million from a Russian firm. RFK Jr, like most of our leaders are bought and paid for , legally. Our lovely leaders have made taking large money from companies, legal.
Yes and no. What constitutes predatory pricing might be different depending on the state or what is being priced. It’s not really black and white. My guess is that some laws regarding rent or pricing has been changed so they are now more confident in going after them. Either that or they are confident that the administration wouldn’t stonewall them
@@insanittiez4860so true. first thing i learned taking business law in college was that law can mean nothing and something at the same time. there’s always a loophole for those who can afford it…
@@ThunderHOWL16 yeah. The law is very grey and is purposely so for a good reason. Every law has outliers so it is important to make some laws vague so outliers aren’t harmed. In accounting, we have some areas that are just grey for a reason. Some industry could consider something one way and another could have it a completely different way. If you try to legislate based on one viewpoint, you must likely will end up in trouble.
@@insanittiez4860 Or it's that this one landlord was doing some active colluding (more than merely referring to a subscription service) and has a whistleblower.
@@josephfisher426 probably what you’re saying. To prosecute, the government would need a unanimous jury so simple things like saying they raised prices aren’t gonna be enough to win a jury over. A lot of people don’t see an issue with corporations making money since that is their goal.
I can understand animal to a certain degree, but charging everyone for maintenance and gym, or pool, use of a grill or having a car wash, and not giving people the option to not pay those fees is criminal. It’s just an excuse to charge people more money for these barely maintained facilities.
@@dev_ilmoon But it’s always been that way with apartment complexes. If you don’t want to pay for the communal gym, pool, etc., then you move into an apartment complex that doesn’t have them. I wouldn’t agree with you that maintenance should be optional. Maintenance of the grounds, the plumbing, electrical, or other issues renters have within their own apartment is included in the monthly rent as it should be.
@@Praisethesunson Under Corpratisim . Capitalism is just a economic mode allowing you and me to trade goods or services with each other freely . the other Mode is that the state is the owner of all goods and services and will dole them out as it sees fit . . What we have right now is runaway Corpratisim
its pretty much big corps and invester companies taking over the U.S. housing market as LANDGRABBER ELITISTS, making the rest of us slaves without a home, aka "homeless people"
@jpnewman1688 Voting only works when the politicians who are being voted on are not controlled by the corporations. Even the house reps all do whatever they are told to do. And not by the people. Democrat, Republican, or Liberal, it's all the same. They are working together behind the scenes. Just not for us. Actually funny to see that people still believe that voting actually changes anything after all this time. Especially when we have seen voter fraud over and over again as well. 🤦♂️
I think they need to be arrested for profiteering and market manipulation. I also think they owe their tenants refunds with late fees and punitive damages.
Every place got hit VERY hard. If you dont make great income (or dual income with a partner) or already OWN property, it’s been VERY hard. Nice to see some change coming soon (hopefully).
@@aaronlampkin284 Orlando is getting ridiculous. I lucked out and bought my house a few years ago right before interest rates became crap. The rental we moved out of is now more than double the price.
@@ki11ukw1k you have to use Zillow as a buyer and that’s the problem it leaves no hidden room for bargains, it creates efficiencies in price setting but disadvantages for buyers. In this sense Zillow acts like a monopoly price setter.
Seriously need regulations in this country that put limits on purchases of land and residential property of corporations and foreigners. In most countries the limit purchase of land to citizens. There are now whole communities being bought up by large corporations and then put on the market to rent.
I’ve noticed that even some goods on Amazon are often times MORE expensive than Walmart and Target. I understand the convenience factor of delivery but I mean, I live less than 5 mins from both brick-and-mortar retail locations.
@@jex_one I've noticed that on some items I lookup, the pricing on Amazon is the exact to the penny to Walmart, Home Depot, etc... Amazon bots working overtime.
@@jex_one The vendors up their prices to accommodate the cost of using the platform. Both Walmart and Target sell their products on Amazon, as well as their own platforms. Sometimes it's cheaper on their own platforms than it is on Amazon. Most of the vendors on Amazon are from China.
Inflation example: Meijer raised the price of a 40 oz Jif Natural peanut butter from $5.19 to 7.49! that is a 44% increase in ONE JUMP! That is $3/lb. Aldi has an exact knock off of the Jif product; same ingredient statement, same nutrition, same label colors, and text. It is $1.79/lb in 16oz jars. That is 60% of the Meijer price and you don't have to buy 2.5 lbs at a time. Time to shop smart and punish the grifters who are responsible for much of the continuing inflation
Using this example, Jif & the makers of knock-off products get together and agree to set the base price at 7.49. Everyone holds firm, gets huge access to customer data and everyone gets to sell that jar for 7.49. What makes them so confident you might ask? The rebuttal is simple. Where would they go to get the jar cheaper? Make it themselves? Nowhere. Que "evil laughter." 😈
That sounds sooo much more doable.. too good to be true now. My brother in law is a school teacher. His paychecks I believe are about $1600 or less. Rent is $2k per month for a basic apartment, average, nothing fancy.
@AnotherUsername-oe5uy ...Yes, it WAS doable in 1972 when I worked downtown L.A. for Barker Bros. as a furniture coordinator being paid $100. per week. It was doable because my studio apartment next to the beach in Santa Monica was $110. a month. ( the 1 bedroom went for $140) .....and gasoline, cheap and plentiful (except for the 1974 Arab oil embargo) Now...2024, over $5.00 per gallon. Let's Make America Great Again 👍 Cast your vote wisely.
As someone who moved to Atlanta from a city that didn’t have these large corporate apartment entities, I knew this was going on and tried to tell others. They weren’t trying to hear it and no one cared because so many people were making decent money with decent jobs. I used to work as a vendor for these apartment entities through the AAA (Atlanta apartment association) and they were some of the worst people I have ever encountered. Rude, arrogant, wildly inconsiderate, stuck up, elitist evil and cheap af that did not care about anything but money. As the Pandemic protections lifted I began to see increase of evictions but strangely enough an increase in vacant units. The prices never went down which is contradictory to general market behavior. Now what will really be interesting is if the law starts investigating these REITs 😮
Uber is doing it. It's basically a prix fixing for taxis. PS. Airlines are doing it by identifying your location and then setting prices. Amazon doing it as well.
Poor Countries have higher home ownership rates than you do. Rents do not have to be as exploitative. But it will only get better if you organize with your fellow poors to make it so. No one will do it for you.
Remember the movie "A Beautiful Mind" and the Nash Equilibrium? Algorithmic pricing is more or less an application of Nash. Problem is that it is inherently monopolistic in character, because it eliminates competition to the disadvantage of the consumer.
My apartment uses realpage. I pay $1650 for a 1 bd unit when it was time to renew my lease my apartment would only give me $250 off the next month rent only. I ended up not renewing only for them to list and rent out my unit for $1455 couple with a free month to a new tenant. Make it make sense.
2 dif people that don't really talk to each other doing dif jobs . the one you tallked to most likely on site . and then the one who makes the listings based off the current market most likely from a head HQ in another state or country .
A now-retired life-long renter, I'm so glad that I've never had to rent from a corporate landlord! Yet I've seen my monthly rent rise&rise, "thanx" to nationwide manipulations of the housing market. Lock 'em up!!!
If the property taxes and property insurance keeps increasing annually, are you expecting your rent to decrease annually? You live in the property, so you get the privilege of those expenses being passed down to you.
@kingalainc1 Found the landlord. No, property taxes have broadly gone down. It is far less expensive to own your place of residence, unfortunately, landlords have monopolized supply and buy up new developments.
Thanx,@@Basement_crusader. I gave up responding to landlord simps myself... I'm sure that the above commenter damn well knows that landlords are the lowest form of bloodsuckers, and that the system is built for them to exploit renters in any number of diverse ways!
Need to force them to divest. This is what happens when capitalism goes overboard. Ive been looking at switching residencies for 8 months just waiting for them to go down before I do it.
Yes, it does and they even add an "imputed" cost of equivalent rent if you own your own house. www.bls.gov/news.release/cpi.nr0.htm Table A, third line from bottom, up .4% for April, up 5.5% for 12 months ending April. Average of everybody, YMMMV
It does, it's just trailing because of how it's sampled and calculated. Only around 1/12 of renters move per month, so it takes a while for the "current price" to get reflected. It's more like a moving average.
It includes housing, "inflation" doesn't include gasoline, though or, I think, groceries. But this story really isn't about inflation, it's about illegal price gouging and price fixing, which does cover has and groceries.
Its disgusting. CORRUPTION N GREED JUST RUNNING A MUCK. Every year with no upgrades, updates Nothing, my apartment rent goes up $100. I've been here 5yrs. Started at $1100 per month. Now its $1600. For what? Talking about MARKET VALUE. They control the MARKET
Need to out law application fees, administrate fees, etc. also need to ban making decisions for rent solely on credit, while ignoring rental history and proof of funds
I live in downtown KCMO and remember my lease jumping 8% in 2022 after learning from inside sources they were switching to this service. Greystar Properties managed the building then, the property management company now is smaller and more local but still utilizes the service. My rent has increased 37% in just the last 4 years, and it’s still in alignment with everything else offered in the area.
Are we blaming the investors for being greedy or your neighbor for not finding a more economical solution? If we left these expensive rent apartments/homes it would make it much easier to spot whos price gouging. No?
@lucibelle yes but nova scotia and new Brunswick have been seriously debilitated. Homeless population soared from sub 50 to now over 1400 in 3 years here in halifax. Layered systemic policy decisions from every level of every government for at least the last 30 years.
Yup, I just got my renewal, here in Texas. I went to the leasing office and low and behold the property manager person was playing around on REAL PAGE🤦♂️😡
Rent has become absolutely ridiculous... wife and I got our house in 2017 and a few of our friends that just moved nearby in an apartment pay more for a 1br1ba than our mortgage. It's absolutely insane to me...
Nancy already turned it down when she was house speaker. It was a bipartisan bill with a few democrats and Republicans. It was a bill barring congress members and their significant others from trading stocks. She was against that sincer her and her husband was heavily invested in companies that they manipulated through policies THEY pass.
O M G - I used to live in one of their apartments. They raised my rent $600 in a massive increase, and their answer for why was “because we can - look around at the prices!”
@@greglane3978or plot twist, they could finally be taking action due to many of their respective colleagues within and outside of the agency facing many economic hardships caused by capitalism. It might be considered a reach but one can only hope that could be the case at this point.
Corporate criminality on collusion of prices and raising the prices of all goods to the extreme is happening. We need a serious investigation into corporate greed. Especially in the agriculture and food processing companies that have near monopolies on supply chain.
It’s funny when I was 17-20 I would never believe that our country would do the bidding of a company. So much information proves otherwise it’s honestly saddening. 😢
Isn't that sonmthing? The corporations gouged us all on profits, driving up inflation. The way to kill inflation is to raise rates. The high rates make it impossible to lower costs. So they have to keep gouging us. We need laws that deal with gouging, not high interest rates.
Bingo. All for show just before the election. Just like president potato head's EO on illegal migrants. It will do nothing but now he can say he did something.
Once had an apt. They forced everyone to pay for a tv package that was supposed to be added to the rental rate. I didn't own a tv I was too busy working. Was still forced to pay a $50 or $30 dollar bump. I was priced out of my space because it wasn't the price I had signed. It was in NV. They still wanted 3K for my "broken contract".
I know an alartment complex in Myrtle Beach where the rent went from 989 in 2019 to over 1800 in 2023 for a 2 bedroom. Corporations are building apartments here rather than local developers.
tax unearned income, rent seeking and rentier activity out of existence. the classical economists were very clear on this. and then there's the whole "Use Value" vs "Exchange Value" thing. "The ordinary progress of a society which increases in wealth, is at all times tending to augment the incomes of landlords; to give them both a greater amount and a greater proportion of the wealth of the community, independently of any trouble or outlay incurred by themselves. They grow richer, as it were in their sleep, without working, risking, or economizing. What claim have they, on the general principle of social justice, to this accession of riches? In what would they have been wronged if society had, from the beginning, reserved the right of taxing the spontaneous increase of rent, to the highest amount required by financial exigencies?" -- John Stuart Mill
The point of business is not to make money. It's to fix a problem in society or just entertainment. Profit at all costs is the downfall of any society. Doesn't matter if it's capitalist or communist. The idea of taking from other just to have a bigger slice of the pie is relevant to every society and government.
Can we just end or at least limit corporate landlords? Remember when the FCC had a rule that a communications company could only own a limited number of outlets in a particular market, then they got rid of it during the Bush administration and the number of companies went from over 200 across the country to about six? Even the Republicans who got rid of it admitted that it did nothing for the consumer, but whoopsie-doodle, I guess it was too late! How about we do that for real estate? If you're a corporation you can only own, say, 500 units per X population or acreage and everything else needs to be owned by private owners.
I think this "Grab all you can, explosive growth at all costs" mindset is an indicator that even capitalists are losing confidence in the sustainability of capitalism. The same thing was happening with oil companies and their price collusion since COVID, and their explicitly-stated reason was that they were trying to cash out quickly before fossil fuels are banned over the coming decades.
So it looks like it's mainly the fault of this AI RealPage software. This is happening nationwide. There are some other softwares but ReaPage is the main one. Apparently there is a "auto-pilot" mode that will control rent prices on their own. Holy hell.
I used to live in Atlanta and this is one of the reasons I left. Everyone knew what was happening but no one would lift a finger to do a thing. The big thing back in those days wasn't just price fixing but keeping a "Do Not Rent" list which is illegal but catching them using it, especially when the authorities don't want to get their hands dirty, was almost impossible.
Bravo to the. Federal Bureau of Investigation. This is what they should be doing. But this doesn’t excuse any of the crimes they committed against me and my family . I demand justice.
If they'd spent the entire last 3 years doing stuff like this, the administration would have a more favorable view in the public eye. It just looks like they're rushing to do something to help poll numbers.
The shortage in housing is used as a cover for manipulation at the margins. If you’re truly curious, research the PER CAPITA housing stock over the past 40 years. Then tell me if there is really a housing shortage.
COLORADO: Bank says I can’t afford a 2000 mortgage payment so I’ll continue paying 3200 for rent instead
PLEASE COME THROUGH FBI!
Why are you paying 3200 for rent? I’m not sure if we can blame greedy investors in every instance some ppl are just making dumb decisions.
bc mortgage is only the start of expenses when owning property
@@KeefChief_ If you have a family and you need to rent a house, you're going to pay outrageous rents.
@@KeefChief_like people have a choice. Wages are lower than the cost of living how are people going to even save up enough to move their family somewhere else to hopefully find cheaper rent and a job? Places with lower rents usually also have lower wages so it doesn’t make a big difference and jobs are harder to find. I live in a place like that but rent is still 2.5k a month for a 4 bedroom, 1.9k a month for a 3 bedroom. People with families who had kids 4 years ago before rents doubled,and they doubled in about 2 or 3 years span even here, are screwed. You have to house your family.
Right, try manual underwriting. They just want us stuck paying rent for ever.
Get corporations the fuck out of owning single family homes
The Democrats proposed legislation to force private equity to sell off the masses of homes they grabbed up, but we need Democrat majorities in the House and Senate as well as President to ever get it passed.
That's about the only way... Or some kind of Cap
this is for apartments, maybe homes too. But yes corps and investment should be out of the housing market.
@@DJRenee No, you give them anything to work with and they will find a way to price fix. Even still, they could just start buying under their name and do the exact same thing "outside" of the corporate name.
@@kathleens7131 Especially the apartments. It's gross that a tiny little studio is upwards of 1.5k to 2k a month. That would leave someone earning 15/hr barely any money to work with after just paying rent, forget about utilities.
Great, now food prices, house prices, car insurance prices. ALL price fixed.
Yes, ripping off and price gouging Americans through collusion and price fixing has become a business model across multiple industries. As individuals, we have to play by the rules paying insurance and taxes but the companies get to cheat. What a country, eh?
Yes but companies say price fixing is legal now because they are using a computer to do all the fixing of prices.
oligopolies is where uncontrolled capitalism ends up when Rockefeller broke the law by have a corporation in more than two states it should have been stopped.
@@Praisethesunson they are using algorithms to up the prices above median income the area. It happened in my area in florida. I lived in lower middle class neighborhood. The rent for a one bedroom unit went from 600 dollars to over 1500 a month. Ridiculous.
How was this not obvious!!?? I've been saying it since they reopened the country and the prices on everything were obviously being artificially inflated. I'm not that smart, but literally always years ahead of my "peers." This is class war and my side is asleep.
If any of these corporate land owners end up having a criminal trial then they are beyond fucked. There isn’t a jury in this country that would acquit these monsters regardless of the charges.
They’ll probably face a very, very low fine and then figure out how to get away with it the next time
JP Morgan paid a $6million fine for manipulating the price of precious metals.
What?
The companies might get fined but the people at the top who actually schemed and executed the plan wont be touched. They never are.
@@boo2457that saddens me. Should have been closer to $60B
The FBI is actually doing their job! I’m shocked, SHOCKED I Say!!😮
Careful Icarus
I doubt that the FBI is going to start any beautiful friendships due to one decent investigation.
This is what happens when your company does something illegal AND fails to donate enough to politicians.
Well, they can't hide Hunter's laptop or Ashley's journal any longer.... 🤣
Well it affects their grandchildren future.
Remember that FINES are just the cost of doing business. They need to send people to jail to make a difference. Senate investigators were told by Wall St middle management while investigating the GFC that all the abuses would continue until a bankster CEO got indited and sent to jail.
I agree... jail will curtail this... fines is the cost of doing business.
@@Dadnatron Just like the 2008 financial crisis. No one went to jail and the finds were 0.0000005% of the profits they made.
Boy were really showed them...............NOT!!!!
"Punishable by fine means legal for a price"
Correct. The FBI will fine these companies a tenth of the profits the companies made doing this
All you need to do is increase the price pass profitability. That needs to be the basis of fines like it is for bail on poor people
It is not inflation, its greed.
10000000%
Yep
Absolutely, it's impossible to have inflation when you're record high profiting. This is called price gouging. Left my old apartments because of this trash. Whole United States corp. Is a sham
You could even say that this damn greed is what is causing inflation
@colemanjr or that covid lockdowns wrecked everything and now we all get to deal with inflation for 20 years. Sensible people knew you couldn't just lock down things and not expect supply side problems. But.."if it just saves 1 life" 🙄
Blackrock, Blackstone and Vanguard next🎉
Nah, just their smaller competitors. Case closed !
No they gonna become their biggest enemy
I highly doubt that. We just saw Blackrock bully the sec into approving a bitcoin etf.
And Irvine Company in SoCal
I wasn't aware that Vanguard was in the real estate rental market.
Edit: I thought you meant vanguard the mutual fund company. I see Vanguard properties now.
Y'all NEED to dig deeper into these monopoly softwares.
then go after monopoly power drills while you're at it
like adobe
Exactly. This is pervasive in everything from housing, healthcare, food, and basically anything the average person needs to live.
@mishakafaka6180 sure. You too broke to be cynical. You need to help instead of whatever that comment was
@@moneypro85 help with what?
This needs to happen everywhere in the nation!!!!
Rented in atlanta from 2020-2023, started out at 1300 / mo for a 2b2ba. After the first year, price jumped to 1400 in 2021 and jumped to 1800 in 2022. If we had renewed in 2023 instead of moving out, I believe it would have gotten to $2000 for the same exact unit we had been in the entire time. The rent scheme is insane. We were fortunate to be able to buy a home in 2023 and escape that nightmare.
It’s is the same in Sacramento. It’s hard to make ends meet, especially if you’re a one-income home.
It’s not a scheme. Property taxes, insurance, and maintenance costs went up 40% since Biden fucked the dollar. The rent needs to cover costs with a small profit to carry the property and tie up debt/cash.
As some one has worked for a property management firm, I can tell you not only is it real page but also just owners of properties just wanting to squeeze every single penny out of you for their profits.
The way that these people speak about the average person/renter is absolutely DISGUSTING. They are so psychopathic it’s sickening.
Rentseekers. Worse than vampires.
We love and appreciate the good renters, and we talk shyt about the bad ones. Also yes, we're trying not to lose money because we're living in the same economy as everyone else, but most of us are fair about it. Karma's a thing.
The greed has made so many nasty. Im glad these butt heads are getting checked. Theyre ruining peoples lives and shaming them at the same fricking time.
@@djangomarine6658facts
Was talking with someone who used to work in an apartment complex leasing office years ago, and part of her duties were to call other apartment complexes each week to see what their pricing was. She was aware of other complexes that did the same thing. It wasn't so they could undercut their competition.
Now go after Zillow and similar
It's about time. You never hear any politicians addressing this problem. They don't care. They just want corporate donations.
With the exception of RFK Jr
Actually, this report proves that the Biden administration is addressing the problem. He has made some surprising moves as president that are not in line with donors such as lowering or eliminating bank junk fees and getting student loan forgiveness for more than 4.7 million despite Republicans fighting it. We are far better off with blue, not red.
Probably cause the politicians are asking corporations for a increase in bribes so and they’re not with it so now it’s a problem
@@dr.laykyle9084 RFK Jr got $25 million from just one man, a banker. RFK Jr received $14 million from a security firm. RFK Jr received $4 million from a Russian firm. RFK Jr, like most of our leaders are bought and paid for , legally. Our lovely leaders have made taking large money from companies, legal.
Biden did say something about it after 3 1/2 years
Predatory pricing is illegal already, just not enforced:(
Yes and no. What constitutes predatory pricing might be different depending on the state or what is being priced. It’s not really black and white. My guess is that some laws regarding rent or pricing has been changed so they are now more confident in going after them. Either that or they are confident that the administration wouldn’t stonewall them
@@insanittiez4860so true. first thing i learned taking business law in college was that law can mean nothing and something at the same time. there’s always a loophole for those who can afford it…
@@ThunderHOWL16 yeah. The law is very grey and is purposely so for a good reason. Every law has outliers so it is important to make some laws vague so outliers aren’t harmed. In accounting, we have some areas that are just grey for a reason. Some industry could consider something one way and another could have it a completely different way. If you try to legislate based on one viewpoint, you must likely will end up in trouble.
@@insanittiez4860 Or it's that this one landlord was doing some active colluding (more than merely referring to a subscription service) and has a whistleblower.
@@josephfisher426 probably what you’re saying. To prosecute, the government would need a unanimous jury so simple things like saying they raised prices aren’t gonna be enough to win a jury over. A lot of people don’t see an issue with corporations making money since that is their goal.
Rent where I’m at has nearly doubled in 5 years, and pay hasn’t moved at all for the majority of jobs.
Same
Yup same here lol
Corporate owned rentals also gouge with “fees” like animal deposits and rent and more it’s out of control
I can understand animal to a certain degree, but charging everyone for maintenance and gym, or pool, use of a grill or having a car wash, and not giving people the option to not pay those fees is criminal.
It’s just an excuse to charge people more money for these barely maintained facilities.
They also love to rob you of your security deposit. Its almost impossible to get your whole deposit back from a corporate landlord.
You can get past pet fees with service animal
@@dev_ilmoon But it’s always been that way with apartment complexes. If you don’t want to pay for the communal gym, pool, etc., then you move into an apartment complex that doesn’t have them. I wouldn’t agree with you that maintenance should be optional. Maintenance of the grounds, the plumbing, electrical, or other issues renters have within their own apartment is included in the monthly rent as it should be.
An animal damages the property just as much as a human Tenant, it would be crazy not to charge.
When I look at the price of keeping a roof over my head, I literally feel like I am in a nightmare.
You are a serf under capitalism. You have a literal lord of the land you live on.
Time to leave America. I can live in Costa Rica way cheaper and be happier
@Praisethesunson You’d be a serf under any system when there’s greedy people. Capitalism allows for correction.
@@Praisethesunson Under Corpratisim .
Capitalism is just a economic mode allowing you and me to trade goods or services with each other freely . the other Mode is that the state is the owner of all goods and services and will dole them out as it sees fit . . What we have right now is runaway Corpratisim
its pretty much big corps and invester companies taking over the U.S. housing market as LANDGRABBER ELITISTS, making the rest of us slaves without a home, aka "homeless people"
Mhmm..now do every other price gouging corporation 😅.
Lock them up!
Really.. But how many times you VOTED?? 😂😂
Yeah, just like the locked up all the bankers in 2008, right? 😂
@@jpnewman1688uh oh, a wild contrarian with no argument appeared.
@@geov.8292 I bet you VOTED a lot.. 😂😂😂
@jpnewman1688 Voting only works when the politicians who are being voted on are not controlled by the corporations. Even the house reps all do whatever they are told to do. And not by the people. Democrat, Republican, or Liberal, it's all the same. They are working together behind the scenes. Just not for us.
Actually funny to see that people still believe that voting actually changes anything after all this time. Especially when we have seen voter fraud over and over again as well. 🤦♂️
I think they need to be arrested for profiteering and market manipulation.
I also think they owe their tenants refunds with late fees and punitive damages.
Do this nationwide please! Apt units in my building have gone up $800 in the 5 months I’ve been here!
This is why I had to leave Atlanta- 80% rent increase is unbelievable
Orlando was just as bad.
I believe it! I’m sorry for what you had to go through
I left NYC to ATL (Atlana is my home city). Atlanta is on its way to being as bad an NYC regarding rent prices
Every place got hit VERY hard. If you dont make great income (or dual income with a partner) or already OWN property, it’s been VERY hard. Nice to see some change coming soon (hopefully).
@@aaronlampkin284 Orlando is getting ridiculous. I lucked out and bought my house a few years ago right before interest rates became crap. The rental we moved out of is now more than double the price.
"Market Rate" has never been anything but another word for price fixing.
Great start! Let’s keep it going.
Grocery stores and oil companies next.
Ive literally been saying the RENT IS TOO HIGH for years
It’s not going to change. They’re just removing competition for the bigger guys. Feudalism is BACK PEASANT!
ive been saying the sky is blue for years
Too high and every graph u can see it increasing since the early 2010’s just been crazy annually at that
Ever since 2020 when the entire housing market got jacked
They gave out a website where can report if you think you're landlord is doing the same tactics.
Zillow is the biggest price fixer of real estate
Im trying to get my first house, what should we use?
As a property manager, I get a lot of my info and pricing from Zillow. 100% true.
@@lordcorgi6481 efficiency of information helps price setters not buyers, it actually destroys what we call markets
@@ki11ukw1k you have to use Zillow as a buyer and that’s the problem it leaves no hidden room for bargains, it creates efficiencies in price setting but disadvantages for buyers. In this sense Zillow acts like a monopoly price setter.
They are. They need sued by mass consumers.
FINALLY! These corporate landlords dominate many, many rental markets here in the US!
I see biggest exodus out of western countries in history about to happen
Put them under the jail!
Indeed. Against a wall first, then under the jail.
Totally
Everyone laughed at the "Rent is too damn high" guy
Seriously need regulations in this country that put limits on purchases of land and residential property of corporations and foreigners. In most countries the limit purchase of land to citizens. There are now whole communities being bought up by large corporations and then put on the market to rent.
Regulators and politicians are bought and paid for by the donor class. Sorry.
Yes. It is absurd that corporations can buy residential real estate. It is absurd that foreigners can buy property in the U.S.
It's not about regulations. It's about power. Which you as an individual do not have. Collectively with your fellow poors you do.
I agree we do need regulations on apartments. Rent for an apartment is ridiculous.
@@Praisethesunson who is poor? speak for yourself not me. 🤣😂
No settlements! Bring the corporations to trial.....you make a show of one and the others will change their tune!
I'm all for this
Exactly. Make it a public trial too like it was with Depp vs Heard. We deserve to se it
Amazon is the king of algorithmic pricing.
And in the crosshairs of the Biden FTC at this moment
I’ve noticed that even some goods on Amazon are often times MORE expensive than Walmart and Target. I understand the convenience factor of delivery but I mean, I live less than 5 mins from both brick-and-mortar retail locations.
Try checking prices on multiple tabs with Amazon open and the price will sometimes change now…
@@jex_one I've noticed that on some items I lookup, the pricing on Amazon is the exact to the penny to Walmart, Home Depot, etc... Amazon bots working overtime.
@@jex_one The vendors up their prices to accommodate the cost of using the platform. Both Walmart and Target sell their products on Amazon, as well as their own platforms. Sometimes it's cheaper on their own platforms than it is on Amazon. Most of the vendors on Amazon are from China.
Inflation example: Meijer raised the price of a 40 oz Jif Natural peanut butter from $5.19 to 7.49! that is a 44% increase in ONE JUMP! That is $3/lb. Aldi has an exact knock off of the Jif product; same ingredient statement, same nutrition, same label colors, and text. It is $1.79/lb in 16oz jars. That is 60% of the Meijer price and you don't have to buy 2.5 lbs at a time. Time to shop smart and punish the grifters who are responsible for much of the continuing inflation
Using this example, Jif & the makers of knock-off products get together and agree to set the base price at 7.49. Everyone holds firm, gets huge access to customer data and everyone gets to sell that jar for 7.49. What makes them so confident you might ask? The rebuttal is simple. Where would they go to get the jar cheaper? Make it themselves? Nowhere. Que "evil laughter." 😈
Sir Kensington mayonnaise went from $4.50 to $13.79 for the same jar in a matter of 3 years
That's not inflation, that's gouging.
The old rule of thumb for rent: take the average monthly income for the area, rent should be 25% thereof.
That sounds sooo much more doable.. too good to be true now. My brother in law is a school teacher. His paychecks I believe are about $1600 or less. Rent is $2k per month for a basic apartment, average, nothing fancy.
@AnotherUsername-oe5uy ...Yes, it WAS doable in 1972 when I worked downtown L.A. for Barker Bros. as a furniture coordinator being paid $100.
per week. It was doable because my studio apartment next to the beach in Santa Monica was $110. a month.
( the 1 bedroom went for $140)
.....and gasoline, cheap and plentiful
(except for the 1974 Arab oil embargo)
Now...2024, over $5.00 per gallon.
Let's Make America Great Again 👍
Cast your vote wisely.
As someone who moved to Atlanta from a city that didn’t have these large corporate apartment entities, I knew this was going on and tried to tell others. They weren’t trying to hear it and no one cared because so many people were making decent money with decent jobs. I used to work as a vendor for these apartment entities through the AAA (Atlanta apartment association) and they were some of the worst people I have ever encountered. Rude, arrogant, wildly inconsiderate, stuck up, elitist evil and cheap af that did not care about anything but money.
As the Pandemic protections lifted I began to see increase of evictions but strangely enough an increase in vacant units. The prices never went down which is contradictory to general market behavior.
Now what will really be interesting is if the law starts investigating these REITs 😮
Can’t believe I’m saying this; Yay feds!!!
Zero people will go to prison lol This is all just a song and dance production and nothing more.
They will fine them a MASSIVE 30M and then crickets. The only thing they are guilty of is not spending enough on lobbying.
Yep
A Tiny 30 M . At the lowest end that single company makes over 1 billion a year . They have 85,000 units .
Uber is doing it. It's basically a prix fixing for taxis. PS. Airlines are doing it by identifying your location and then setting prices. Amazon doing it as well.
Another reason why opting out of and blocking targeted advertising is important. Its never used to your benefit.
WHAAAAAAT?! NEVER thought I'd see anything like this. But it needs to be done across the country
And UK and Australia.
The damage is already done. We are not going back to reasonable rents.
Glad you have a realistic view. Too many people do not.
@@greglane3978Expect better for your life and organize with your fellow poors to get it.
Poor Countries have higher home ownership rates than you do. Rents do not have to be as exploitative. But it will only get better if you organize with your fellow poors to make it so. No one will do it for you.
It is beyond greed. It is criminality.
Remember the movie "A Beautiful Mind" and the Nash Equilibrium? Algorithmic pricing is more or less an application of Nash. Problem is that it is inherently monopolistic in character, because it eliminates competition to the disadvantage of the consumer.
My apartment uses realpage. I pay $1650 for a 1 bd unit when it was time to renew my lease my apartment would only give me $250 off the next month rent only. I ended up not renewing only for them to list and rent out my unit for $1455 couple with a free month to a new tenant. Make it make sense.
2 dif people that don't really talk to each other doing dif jobs . the one you tallked to most likely on site . and then the one who makes the listings based off the current market most likely from a head HQ in another state or country .
Was literally just talking about this. They literally doubled rent within a cpl years. They're forcing ppl to suffer.
Someone is regretting that they didn't contribute to the right campaigns...
A now-retired life-long renter, I'm so glad that I've never had to rent from a corporate landlord!
Yet I've seen my monthly rent rise&rise, "thanx" to nationwide manipulations of the housing market. Lock 'em up!!!
If the property taxes and property insurance keeps increasing annually, are you expecting your rent to decrease annually? You live in the property, so you get the privilege of those expenses being passed down to you.
@@kingalainc1 You write with a very punchable voice and tone. "Privilege?"
@kingalainc1 Found the landlord. No, property taxes have broadly gone down. It is far less expensive to own your place of residence, unfortunately, landlords have monopolized supply and buy up new developments.
Thanx,@@Basement_crusader. I gave up responding to landlord simps myself...
I'm sure that the above commenter damn well knows that landlords are the lowest form of bloodsuckers, and that the system is built for them to exploit renters in any number of diverse ways!
@@kingalainc1the rate of rental price increases has dramatically outpaced inflation and property tax increases.
Need to force them to divest. This is what happens when capitalism goes overboard. Ive been looking at switching residencies for 8 months just waiting for them to go down before I do it.
What’s funny is the CPI (the numbers they use to calculate inflation) don’t include housing
Yes, it does and they even add an "imputed" cost of equivalent rent if you own your own house. www.bls.gov/news.release/cpi.nr0.htm Table A, third line from bottom, up .4% for April, up 5.5% for 12 months ending April. Average of everybody, YMMMV
It does, it's just trailing because of how it's sampled and calculated. Only around 1/12 of renters move per month, so it takes a while for the "current price" to get reflected. It's more like a moving average.
Or energy or food. You know those "unimportant" things nobody needs.
It includes housing, "inflation" doesn't include gasoline, though or, I think, groceries.
But this story really isn't about inflation, it's about illegal price gouging and price fixing, which does cover has and groceries.
Its disgusting. CORRUPTION N GREED JUST RUNNING A MUCK. Every year with no upgrades, updates Nothing, my apartment rent goes up $100. I've been here 5yrs. Started at $1100 per month. Now its $1600. For what? Talking about MARKET VALUE. They control the MARKET
Need to out law application fees, administrate fees, etc. also need to ban making decisions for rent solely on credit, while ignoring rental history and proof of funds
They won't so I'm leaving America
Lol application fee. Wtf
Everyone should start squatting in these vacant corporate owned properties.
Haha! Totally
Occupy!
I live in downtown KCMO and remember my lease jumping 8% in 2022 after learning from inside sources they were switching to this service. Greystar Properties managed the building then, the property management company now is smaller and more local but still utilizes the service.
My rent has increased 37% in just the last 4 years, and it’s still in alignment with everything else offered in the area.
My neighbors pay $2700 for a shithole "1 1/2" bedroom with no AC.
Are we blaming the investors for being greedy or your neighbor for not finding a more economical solution? If we left these expensive rent apartments/homes it would make it much easier to spot whos price gouging. No?
@@KeefChief_ #PitforksAndPeasentsTime
@@KeefChief_ It should be illegal to own more than 1 house, if there are any homeless.
And yet, the rents/mortgages have still not lowered so they got caught and nothing was done to fix the problem.
Krystal is ON POINT 100% starting at 7:11, why more people cannot clearly see this is beyond me
Rents have increaed in halifax, Ns from around 1k a month to well over 2k a month since 2020. Insane.
Jesus. In Halifax, NS???
All over Canada. The rental and real estate markets here are absolutely insane.
@lucibelle yes but nova scotia and new Brunswick have been seriously debilitated. Homeless population soared from sub 50 to now over 1400 in 3 years here in halifax. Layered systemic policy decisions from every level of every government for at least the last 30 years.
Yup, I just got my renewal, here in Texas. I went to the leasing office and low and behold the property manager person was playing around on REAL PAGE🤦♂️😡
This is the result of using homes as investments for your portfolio
Or .. you know.. the degenerate profit gouging and price fixing. But sure blame the poorest people with no power.
@@0ldar poorest people? Investment firms aren’t poor, they’re the ones creating the problem.
Sorry I misinterpreted your statement, then. Thought you werereferring to regular investors, ie people
Rent has become absolutely ridiculous... wife and I got our house in 2017 and a few of our friends that just moved nearby in an apartment pay more for a 1br1ba than our mortgage. It's absolutely insane to me...
Wen they gonna raid congress for INSIDER TRADING
Congress: we’ll allow it
When congress makes it illegal.
How come athletes can't bet on their own games but Congress can buy stocks and manipulate the market....
Never.. Nancy could not make another $100M in the next two years if they did that.
Nancy already turned it down when she was house speaker. It was a bipartisan bill with a few democrats and Republicans. It was a bill barring congress members and their significant others from trading stocks. She was against that sincer her and her husband was heavily invested in companies that they manipulated through policies THEY pass.
O M G - I used to live in one of their apartments. They raised my rent $600 in a massive increase, and their answer for why was “because we can - look around at the prices!”
bro, not every industry needs to be corporatized! because it always end up eating it’s self.
This is the first time in my life that I’ve heard of the FBI actually standing up for the little guys like us
Agreed. An entire lifetime and they’ve finally done something for good. I guess that’s a start
All for show. Not one damn thing will come of this other than the FBI getting a headline.
@@greglane3978or plot twist, they could finally be taking action due to many of their respective colleagues within and outside of the agency facing many economic hardships caused by capitalism. It might be considered a reach but one can only hope that could be the case at this point.
good. fuck the price fixing
Corporate criminality on collusion of prices and raising the prices of all goods to the extreme is happening. We need a serious investigation into corporate greed. Especially in the agriculture and food processing companies that have near monopolies on supply chain.
oh, you mean the folks putting glyphosate in the food? And people wonder about the divisions in this country!
@@curiousbystander9193 yes that is one of several issues.
People are leaving the country due to being priced out of EVERYTHING
Just our government taking out the competition for BlackRock. Nobody is truly working on your behalf.
🙄🙄🙄
It’s funny when I was 17-20 I would never believe that our country would do the bidding of a company. So much information proves otherwise it’s honestly saddening. 😢
@@KeefChief_ ditto man. I never thought I would see us fall so far.
Amen…thank you lord! People are becoming homeless because of these high rent prices!
Buying everything people have no place to live. The greed of blackrock and vanguard.
I hope those that are responsible get prison time. NOT the scapegoat. The actual decision makers.
Thanks for my daily laugh. The donor class is NEVER held responsible.
Isn't that sonmthing? The corporations gouged us all on profits, driving up inflation. The way to kill inflation is to raise rates. The high rates make it impossible to lower costs. So they have to keep gouging us. We need laws that deal with gouging, not high interest rates.
"Let the market decide" is manna from heaven for criminals
The ridiculous thing about this scandal is the margins for property management companies were already decent. No reason to price fix except G-R-E-E-D🤑
“Hey look we’re doing something, cause November is in a few months!”
And they are all of a sudden born-again border security hawks as well. What a coincidence!
Pay no attention to tensions with Russia!
That’s exactly how I took it. Oh election years
Bingo. All for show just before the election.
Just like president potato head's EO on illegal migrants. It will do nothing but now he can say he did something.
How do you ever make this right? I don’t think you can
gotta wonder!
So basically, a 100k fine, maybe?
probably a refund for a few but prevention of the practice in the future is huge
The corporation's other renters will get to pay that in their new rent increase.
I love how it’s “surprising” that the FBI is holding a company accountable for breaking the law.
Once had an apt. They forced everyone to pay for a tv package that was supposed to be added to the rental rate. I didn't own a tv I was too busy working. Was still forced to pay a $50 or $30 dollar bump. I was priced out of my space because it wasn't the price I had signed. It was in NV. They still wanted 3K for my "broken contract".
I know an alartment complex in Myrtle Beach where the rent went from 989 in 2019 to over 1800 in 2023 for a 2 bedroom. Corporations are building apartments here rather than local developers.
tax unearned income, rent seeking and rentier activity out of existence. the classical economists were very clear on this. and then there's the whole "Use Value" vs "Exchange Value" thing.
"The ordinary progress of a society which increases in wealth, is at all times tending to augment the incomes of landlords; to give them both a greater amount and a greater proportion of the wealth of the community, independently of any trouble or outlay incurred by themselves. They grow richer, as it were in their sleep, without working, risking, or economizing. What claim have they, on the general principle of social justice, to this accession of riches? In what would they have been wronged if society had, from the beginning, reserved the right of taxing the spontaneous increase of rent, to the highest amount required by financial exigencies?"
-- John Stuart Mill
6 years ago I was renting a 3 bedroom house for what I now pay for a studio apartment.🥺
The point of business is not to make money. It's to fix a problem in society or just entertainment. Profit at all costs is the downfall of any society. Doesn't matter if it's capitalist or communist. The idea of taking from other just to have a bigger slice of the pie is relevant to every society and government.
I keep saying that. Everyone wants to make money but most want it from helping others through said product instead of the lazy no talent grifters.
Not anymore, it’s long been the goal to just make money, solving problems is just a nice bonus.
Can we just end or at least limit corporate landlords? Remember when the FCC had a rule that a communications company could only own a limited number of outlets in a particular market, then they got rid of it during the Bush administration and the number of companies went from over 200 across the country to about six? Even the Republicans who got rid of it admitted that it did nothing for the consumer, but whoopsie-doodle, I guess it was too late! How about we do that for real estate? If you're a corporation you can only own, say, 500 units per X population or acreage and everything else needs to be owned by private owners.
I fear it will take years and tens of millions of dollars just to get them to settle out of court for an undisclosed amount.
I have an Android and an iPhone when I order something online using the iPhone the price is higher this has been going on for years now.
I think this "Grab all you can, explosive growth at all costs" mindset is an indicator that even capitalists are losing confidence in the sustainability of capitalism.
The same thing was happening with oil companies and their price collusion since COVID, and their explicitly-stated reason was that they were trying to cash out quickly before fossil fuels are banned over the coming decades.
When I lived in atl it was cheap now the house in the suburbs I rented for 750/month is now 2500 a month
So it looks like it's mainly the fault of this AI RealPage software. This is happening nationwide. There are some other softwares but ReaPage is the main one.
Apparently there is a "auto-pilot" mode that will control rent prices on their own. Holy hell.
The software is just an excuse, a loop-hole. They know what they're doing and it's extremely deliberate.
@@josephtnied good point
People are going to increasing use AI to commit crimes and then blame the AI when they get caught
Yes, now they just have a tool that does it for them.@@josephtnied
I used to live in Atlanta and this is one of the reasons I left. Everyone knew what was happening but no one would lift a finger to do a thing. The big thing back in those days wasn't just price fixing but keeping a "Do Not Rent" list which is illegal but catching them using it, especially when the authorities don't want to get their hands dirty, was almost impossible.
Gonna sue my landlords for sure
Call them rentseekers. Landlord sounds too tyrant like.
Sure you are. IF you actually go through with a lawsuit, I'm on your side though.
@@Trace-l7kthey are tyrants
Bravo to the. Federal Bureau of Investigation. This is what they should be doing. But this doesn’t excuse any of the crimes they committed against me and my family . I demand justice.
Cortland has a property across the street from me, and many here in DFW metro. I believe that RealPage is headquartered in city of Dallas proper.
Just learned about RealPage today and realized they are likely a major factor in the housing crisis
Correct. It’s off 75 in Rchardson. And they’re absolutely corrup.
Corporations are criminals
If they'd spent the entire last 3 years doing stuff like this, the administration would have a more favorable view in the public eye. It just looks like they're rushing to do something to help poll numbers.
They have been, but these cases take a long time to build. If you had followed Stoller you'd know this.
About time the government works for the people and not corporations.
This is what happens when you cut regulations. Remember, regulations is just government-speak for rules. We are not a society without rules.
The FBI doing actual justice? Count me surprised
Just for show. They will continue to be a useless organization.
Go get'm fellas!
The shortage in housing is used as a cover for manipulation at the margins. If you’re truly curious, research the PER CAPITA housing stock over the past 40 years. Then tell me if there is really a housing shortage.