While speculators driving up prices is a problem, the bigger problem is your small scale landlords with half a dozen revenue properties 3 of which are only being used as AirBnBs, and the rest managed using price fixing software to gradually break renters backs.
We’ve known since the beginning that Rent Seeking is anathema to free markets. It’s the dirtiest word in economics, because it breaks the whole system and is accountable to no feedback mechanism on a macro-scale.
While speculators driving up prices is a problem, the bigger problem is your small scale landlords with half a dozen revenue properties 3 of which are only being used as AirBnBs, and the rest managed using price fixing software to gradually break renters backs.
We’ve known since the beginning that Rent Seeking is anathema to free markets. It’s the dirtiest word in economics, because it breaks the whole system and is accountable to no feedback mechanism on a macro-scale.