Hochul Looks to Ban Algorithm-Based Rent Price Fixing in New York
New York Gov. Kathy Hochul wants to ban the use of real estate management software that sets rent prices via algorithm—what federal prosecutors say can amount to collusion that artificially inflates rents during a nation-wide housing crisis.
Hochul is expected to announce the proposal in her State of the State speech Tuesday. Should her proposal pass, New York would join jurisdictions like San Francisco and Philadelphia in prohibiting such software.
