The recently released White House report, which attributes computer technology to the dramatic increases in rental costs that Americans have experienced over the past four years, is best described as a self-serving white.
According to this report, home owners who use computational pricing software to set the market value for their rental properties have artificially inflated rents. The Federal Reserve’s dovish financial plan and the Biden administration’s careless economic agenda are easily ignored in this study.
Prices didn’t just happen, it was fueled by the Fed’s producing hit and the White House’s increased spending plans, which flooded the market with trillions of dollars. This spending binge drove up demand across the board, which — , by increasing competition for available properties — , inflated costs.  ,
The frightful aspect is that it could have been actually worse. Congress would have passed his” Build Back Better” plan, which would have flooded the market with an additional$ 5 trillion in spending if President Biden had gotten his way.  ,
However, the White House’s latest housing report completely disregards these core dynamics, choosing to use property owners as scapegoats rather than to enforce rents.
Analytic pricing software is never a price-fixing plan. It is simply a tool to better understand supply and demand in real time, based on local vacancy rates and other market conditions.
Ride-share companies, flights, hotels, and even government-run toll roads use the same community of technology to support price their products. This program is comparable to Kelly Blue Book when used to evaluate a car’s worth.  ,
If prices are rising, it’s not because of the technology that’s being used, it’s because of the underlying economic culture. Attacking these tools will do nothing to address the underlying issues driving casing affordability challenges — especially, inflation, provide constraints, and governmental barriers.
Not surprisingly, the report also quickly ignores the president’s failure to encourage a powerful housing industry.  ,
Former Housing and Urban Development mind Jack Kemp made the powerful circumstance that state regulations increase the cost of housing thirty years ago. However, in the ensuing three decades, yet more laws have been enacted on the federal, state, and local rates, compounding the issue and leaving more landlords to contend for the same number of properties.  ,
Take the Biden administration’s energy agenda, for example. As early as Jan. 20, 2021, President Biden declared war on America’s energy production, canceling the Keystone Pipeline and restricting permits for drilling and hydraulic fracturing. These far-left party members’ extreme political decisions caused the price of gasoline, services, and shipping costs, many of which are used to build homes, go up. The predictable result? Rising housing costs.  ,
The Biden administration has stepped up on restrictive policies that deter new construction in order to encourage the construction of affordable housing. In fact, fifteen states and the National Association of Home Builders recently filed a lawsuit challenging new energy standards that could increase a new home’s$ 31, 000 cost.
The new housing report from the White House shifts blame away from policies that have caused inflation and housing shortages to software that documents and takes those realities into account.  ,
If the administration is serious about tackling housing affordability, it should address the root causes — inflationary spending, the central bank’s out-of-control printing press, restrictive zoning laws, and costly building regulations.
The administration should concentrate on stabilizing the economy, easing inflationary pressures, and encouraging housing supply growth rather than demonizing the tools that property owners use to navigate the difficult rental market. In the meantime, reports like this one are merely attempts to distract from policy failures, and renters across the nation will continue to be held to account for the outcome.
Fortunately, a new era is upon us — one in which innovation is rewarded, not punished. It can’t come a moment too soon.  ,
Under President Reagan, Bay Buchanan held the position of 37th Treasurer of the US.
