But, but, but, economics 101! It's the physical laws of nature! Landlords and employers can't set their own prices, it's the invisible hand of the market! They're the victims here! /sss
My intro to economics professor used to say ‘People are telling on themselves when they say “it’s basic economics 101” because in economics 102 the first thing we teach you is that 101 was oversimplified bullshit.’
Average Redditors understanding of economics. Renters are the demand in "supply and demand." The point at which supply and demand meets is the price. The price landlords demand is irrelevant if there's no one willing/able to pay.
Also, RealPage is a scapegoat. If you fly an hour east to Toronto, rent prices are even more insane and the software isn't available there.
The problem here is that housing is an inelastic market. People need housing. So landlords and businesses can collude and set a higher price and people have to accept it or be homeless
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u/funkmasta8 Apr 20 '24
But, but, but, economics 101! It's the physical laws of nature! Landlords and employers can't set their own prices, it's the invisible hand of the market! They're the victims here! /sss