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Oh sweet summer child.
There is no ceiling! If 10 of us poors need to cram into a studio apartment to make ends meet, what does the landlord and corporations care? The justice department is already suing (until the 20th) the largest rental companies for collusion and price fixing. They are using algorithms to decide their occupancy rates. Turns out 100% occupancy isn't the most profitable. They need constant turn over in order to keep rasing rates. People have to live somewhere and if all the companies are using the same algorithm isn't obvious that 100% occupancy isn't wise.
I understand that, but at some point they will hit a number where people in the area can't afford the 1st month (or more) down or even monthly payments. And landlords aren't going to just start waiving the down payment or rent up front as this whole thing is about them using algorithms to maximize income. So there is a ceiling, but they can of course collude on what that is and all match that ceiling so that it's the only option (which I assume is what happened here). If they can then cause turnover once tenants are in place by prices breaking that ceiling they can keep down payments for breaking lease, then drop the price back to that ceiling for the next victim, rinse and repeat.
I lived in a place where that happened. There were very obvious changes as the rent kept going up. (I stayed because everywhere else was going up just as much.)
None of that stopped the rent from going up. If anything, it went up faster.
People think too small when it comes to stuff like this. One individual land lord company doing this isn't a big deal. But when you scale that up to a national level? We're talking about millions of homes going empty, misused, and siphoned off for only greed.
I'd say even one landlord is too many, but easier to deal with. The scale this seems to be happening at is mind boggling and should be criminal, in my opinion. Or whatever it takes to stop this.