New legislation in Congress aims to tackle a financial burden weighing on millions of households -- rent that is too damn high, as one NYC activist famously claimed.
  • sp3ctr4lEnglish
    26•16 hours ago

    …ooook.

    So, even in the unlikely event this passes:

    The legislation introduced by Klobuchar, called the “Preventing Algorithmic Collusion Act,” would require rental companies to disclose if they are using algorithms to set rents. And it would direct the Federal Trade Commission to study how these algorithms are affecting competition.

    So it doesn’t actually do anything.

    No fines. No actual outlawing of algorithmic price control.

    It just forms a study group.

    It is litetally the meme of ‘lets form a committee to study the problem so that in 5 years we can propose a minor change and then means test that for 10 years.’

  • Onno (VK6FLAB)
    30•18 hours ago

    Congress is on top of this?

    Wow.

    How gullible are you? You really think that anyone in Congress rents their family home and lives in it?

    This is the same Congres that cannot agree to national medical care, student debt, minimum wage, COVID prevention measures, or abortion?

    Yeah, winning LOTTO is a better bet.

    • @[email protected]English
      3•16 hours ago

      People in Congress do often rent an apartment in DC.

      But this bill still doesn’t do anything.

      • Flying Squid
        3•11 hours ago

        And frequently complain about how high DC rents are to the point of doing things like having multiple congresspeople in one house like college roommates.

        They are unwilling to do anything even though it affects them. That’s what’s so amazing.

  • @HappySkullsplitter
    28•18 hours ago

    The bill, introduced by Sen. Amy Klobuchar, D-Minn

    Yeah, that bill is DOA

  • @[email protected]English
    14•17 hours ago

    “Why not ask when you’re going to rent: ‘Are you involved with RealPage or one of these companies that sets rents?’”

    Because in many cases, I don’t have another choice in the market. Hard to hold out for better prices when the other option is homelessness

  • @[email protected]
    -3•18 hours ago

    Sorry there is a limited amount of homes. Rents will stay high. You have to build more homes and apartments. With homes burning up at a rapid rate it is only going to get worse.