Canadian mega landlord using AI ‘pricing scheme’ as it massively hikes rents
Canadian mega landlord using AI ‘pricing scheme’ as it massively hikes rents
Using AI to automate collusion while holding no personal accountability.
"But what if the invisible hand was an AI algorithm?"
40The provincial maximum on rent-controlled apartments last year was 2.5 per cent, but Sharpe’s building has no limit because Ontario Premier Doug Ford removed controls on any rental units built or occupied after November, 2018.
Drug Fraud ... the asshole of Ontario.
40If ontarians keep voting the fucker in office, perhaps they have a problem with their culture
16It's not so much that they voted him in, as that they didn't bother to vote him out. Turnout was 43.53% in the last election.
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AI hElPs PeOpLe LiVe BeTtEr LiVeS!
We should outlaw all the tactics used by the worst offenders until the renter/landlord relationship returns to a reasonable level of sanity. These fucking parasites are destroying the Canadian economy by further concentrating wealth - we've come a long way from "I have an extra bedroom since my kid moved out" and landlording is now a business and should never be given the benefit of the doubt.
24It’s not even private landlords that people should be worried about. There’s a big push on for big companies to just buy as much land as they can everywhere to permanently claim it for future rental purposes.
Consider if rather than a city with a million independent landlords, “omni corp.” bought and controls 90% of the available units anywhere in the city and can control who can live in the city through their database, etc.
Maybe they decide to buy some retiree houses before they pass away and offer the grandkids shares in the company for ongoing revenue and guaranteed income for the rest of their lives. Many old folks would jump at that. But omnicorp would never let the land ever become public again.
It’s all about real estate now. Any other “investment” is inferior. My previous boss knew that ages ago.
2
DREAM Unlimited (DRM-T) is the company in question (Dundee Real Estate Asset Management). They are the head corporation that provides management services under MSA contracts to their sub-advised companies, DREAM Industrial REIT (DIR.un-T), DREAM Office REIT (D.un-T), and probably the actual company in question, DREAM Residential REIT (DRR.un).
There are many, many REITs (real estate investment trusts) in Canada, public and private, and what makes them a fairly good investment is that they absolutely relentlessly fuck the renter class. They need to be banned or have returns regulated, like utility companies.
22Guess who else has an REIT.
That's right, Galen Weston.
He is fucking you more than piper Perri in a gangbang.
5
Here's a trivial test of this is price fixing: Does this system use material non public information to determine prices?
The answer is yes, and therefore it should be illegal and the users of the system charged for it.
This app violates price fixing laws, market allocation laws, and supply restriction laws. it needs to be banned and subpoenaed so that every user of it can also be charged.
7This is 100% a Doug ford problem.
In BC all rent hikes are permanently capped at the government limit regardless of anything else.
5Hey member that guy who bribed Clarence Thomas? He owns Real Page. Nothing to see here folks.
2Pretty sure this violates Asimov's first law of robotics
1