@tolles This story presumes that when rents of high end apartments rise, wealthy consumers settle for mid-tier apartments. But a more likely reaction is to buy a place outright, or to change neighborhoods for a high-end rental.
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Hal Singer
5K posts
Hal Singer
@HalSinger
MD @ EconOne | Prof @EconUofU | ED @ UtahProject | NYTimes: "one expert for the plaintiffs" | Prospect:"preeminent watchdog of The Economist's most wrong takes"
Washington, D.C. शामिल हुए Aralık 2011
2.9K फ़ॉलोइंग16.6K फ़ॉलोवर्स
@HalSinger Why is is this so inscrutable? In high end real estate markets with growing high earner populations (blue cities), not building market rate housing causes displacement more than building it
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The latest trickle-down-economics theory: Build luxury housing … for the poors!
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@michaeldomps @fuelgrannie These lickspittles are paid to peddle a fake narrative. A bird flaps its wings in San Francisco and low-end rents fall from record highs in Austin. Ergo, the bird caused rents to fall.
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@HalSinger @fuelgrannie “Most consistent finding in housing studies”
How many studies
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Hal Singer रीट्वीट किया
8 states file antitrust complaint against NXST/TGNA.
oag.ca.gov/system/files/a…
Interesting complaint in that it goes after retrans and degredation of local news coverage as a consumer welfare/loss of competing product issue. /1
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@Sherman1890 I’d condemn any agreement to turn over pricing authority to a common agent (human or AI). No sharing of CSI needed. No need for enforcement action.
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@HalSinger RPM and MAPs are fairly common example. On algorithms, would you condemn simple agreements to share under a per se rule? or would you limit it to agreements that also involve some enforcement action, as in RealPage?
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In case you missed it, I have a new piece in the LPE blog on how market definition undermines enforcement efforts, even when the enforcer prevails on that issue. As a case study, I use the FTC’s attempt to block the Meta-Within merger—a case in which I served as the FTC’s expert. Here’s the takeaway.
Hal Singer@HalSinger
There’s a reason that companies like Live Nation and Netflix (before it abandoned its acquisition of Warner Bros.) love to make expansive, sometimes absurd, claims about market definition: as the Supreme Court has narrowed the scope of per se illegality in antitrust law, plaintiffs are required to demonstrate that defendants possess market power. And, as I explain in my first @LPEblog post, one way to make this requirement more burdensome is to turn the trial into a costly, complex fight over market definition. Special thanks to the editors, @j_e_brandt and Liz Brown, for asking the hard questions, as well as to @mypaperboat and @TedTatos for wonderful comments. lpeproject.org/blog/the-marke…
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@Sherman1890 I suggested common pricing algorithms in the piece, regardless of whether competitively sensitive info is shared. RPM and MAPs are also good candidates.
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@HalSinger so what practices would you apply the per se rule to that are currently addressed under the rule of reason?
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Hal Singer रीट्वीट किया
Dems should be for the working class, not the Epstein class.
I plead guilty to coining the phrase.
Jon Favreau@jonfavs
In this op-ed, @ThirdWayTweet actually argues that "Epstein class" is an "age-old trope" pushed by "Jew-haters on the left."
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Hal Singer रीट्वीट किया
1/ As I reported my book, I noticed something that has completely changed American life: widespread chronic under-staffing. It leads to, among other things, deadly medication errors at pharmacies, flight delays, messy stores, and the crime wave. From me today @TheProspect
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Hal Singer रीट्वीट किया
Made this point earlier about Rapino being cute with Live Nation’s market share.
#tickets
Hal Singer@HalSinger
There’s a reason that companies like Live Nation and Netflix (before it abandoned its acquisition of Warner Bros.) love to make expansive, sometimes absurd, claims about market definition: as the Supreme Court has narrowed the scope of per se illegality in antitrust law, plaintiffs are required to demonstrate that defendants possess market power. And, as I explain in my first @LPEblog post, one way to make this requirement more burdensome is to turn the trial into a costly, complex fight over market definition. Special thanks to the editors, @j_e_brandt and Liz Brown, for asking the hard questions, as well as to @mypaperboat and @TedTatos for wonderful comments. lpeproject.org/blog/the-marke…
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With zero net private-sector job creation, now is the time for a massive public-sector jobs program. How else are we to absorb all the new graduates seeking to enter the labor market? Wage reductions? Unemployment insurance?
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Hal Singer रीट्वीट किया
Hal Singer रीट्वीट किया
Seligman sued the largest corporate landlord for ripping off tenants. He sued meatpacker JBS for injuring workers. He sued Arby's, whose owners secretly agreed to never hire each others' managers. He's suing Uber/Lyft for screwing over drivers. *This* is the next AG of Colorado.
Adam Carlson@admcrlsn
For those that aren’t following the Colorado AG Democratic primary, remember the name David Seligman. David’s platform includes prosecuting ICE, protecting immigrants, taking on AI & Big Tech companies, and going after corporate polluters. His establishment-backed opponent, Secretary of State Jena Griswold, is trying to coast to the nomination. David’s got the juice. He’s got the grassroots support. He’s not a politician. He’s an experienced attorney who has spent his career fighting for working people and immigrants. Who genuinely gives a shit about Coloradans. An upset is brewing. This is just the beginning.
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Not sure I’d accept shuttered due to performance issues as a basis for a less stringent standard for mergers. An acquiring firm could always claim poor performance as a pretext for extinguishing competition. Relatedly, Meta cited performance issues for shuttering Supernatural after its acquisition. What if the purportedly low performance was a function of neglect by the acquiring firm? By acquiring Supernatural, Meta kept it out of Apple’s hands.
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@HalSinger I agree, but the range of post-merger shut downs is broad and only a subset are anticompetitive. Others include consolidation of brands; retirement of poorly performing lines, closure of weak stores.
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Why do we treat mergers differently than payments not to compete by one firm to its chief rival?
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Not defending any particular decision, just noting the disparity in treatment. Paying someone to exit and acquiring a rival are equivalent economic activities and thus should be treated under the same standard. And neither should involve a detour into market definition. Speaking of which ….
lpeproject.org/blog/the-marke…
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@HalSinger Really? defending Topco, which condemned a product-improving joint venture of small grocers with no market power (average share=6%), who were seeking to compete more effectively with large ones? As the dissent pointed out, it was a very pro-Chain decision.
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Hal Singer रीट्वीट किया
The war in Iran is crushing our economy at home. Gas prices are up 27% and we’re spending $2B daily.
Today, I’m introducing the Big Oil Windfall Tax Act with @SenWhitehouse to tax Big Oil and return this money to Americans’ pockets.
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Hal Singer रीट्वीट किया
@HalSinger just saw this in the evidence file: LNE says that amphitheaters aren't a defined market. And yet:
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Hal Singer रीट्वीट किया
Today, @HalSinger explains how antitrust defendants are thwarting enforcement by dragging plaintiffs into costly battles over market definition.
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Hal Singer रीट्वीट किया
Rich people act egregiously to get rich and then get richer.
It's the signature issue of our time, and it explains so much in the housing market.
Democrats should talk about it more! (anti-density exclusionary zoning sucks, but bad laws are not the only important issue!)
Demand Progress@demandprogress
Zillow paid Redfin $100 million to exit the rental listings market. Now a Zillow-adjacent hedge fund wants to push out another competitor, Homes.com. Zillow's monopoly lets it charge high referral fees on commissions at the expense of homebuyers.
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