Process
Status Items Output None Questions None Claims None Highlights Done See section below
Highlights
id554920425
. The average American now spends more than a third of their income on housing, a trend driven in part by Wall Street landlords that hike rents, collect fees, and increasingly turn to automated systems to manage their sprawling, nationwide portfolios
✏️ Wall Street investors buy up buildings and become mega landlords, don’t have the staff to manage everything, and outsource things like screening tenants to other companies that use algorithms to automate things. They raise rent, add fees, and add these other automations (the screenings) that they then charge the tenant to pay for as well. Tenants with “low scores” have to pay greater deposits. Naturally, it’s up to these companies to decide what denotes a low score, and how the data is gathered. Profit is, as always, number one in any decision made. 🔗 View Highlight
id554926753
While consumer groups and data analytics experts weighed in to urge greater oversight and algorithmic audits from federal agencies, some industry lobbying groups painted the move as regulatory overreach.
id554926759
The National Multifamily Housing Council, which represents large landlords and screening companies, cautioned against “reporting measures that unduly interrupt necessary operational and property management practices.”
✏️ The eternal battle between government and private. People are being abused by private methods that prioritize profit over human needs and rights, and government is being called/or actually calling for regulation.. Then the private fights back that this would mean too much government control and would hurt the investors and owners and rich people from being able to provide their services. 🔗 View Highlight