In a recent analysis, Michael Graham critiques Senator Elizabeth Warren's position on rental pricing, drawing parallels to Harold Daggett, the president of the International Longshoremen’s Association (ILA). Daggett, who earns nearly $900,000 annually, has been vocal against technological advancements like E-Z Pass, which he believes threaten jobs in the maritime industry. Similarly, Warren, along with Senator Ed Markey and Representative Seth Moulton, has opposed dynamic pricing models in rental properties, which they argue could exploit tenants [b37f7b4e].
The lawmakers have reached out to 13 property management companies in Massachusetts regarding the use of RealPage software, which they claim could lead to unfair pricing practices. This comes at a time when Boston is grappling with a significant housing shortage, with home sales at their lowest since 2008 and Zillow reporting a deficit of 4.5 million homes nationwide [b37f7b4e].
Rental prices have surged nearly 20% since President Biden took office, a trend that many attribute to a lack of supply exacerbated by restrictive zoning policies. Despite the controversy surrounding RealPage, only 7% of U.S. rentals currently utilize this software, indicating that the broader issues of supply and regulation are at play [b37f7b4e].
Graham argues that deregulation could be a solution to increase housing supply and alleviate the rising costs of rentals, suggesting that the current political stance may inadvertently contribute to the housing crisis rather than resolve it [b37f7b4e].