Open AccessSome antitrust problems and related economic issues in real estate brokerage, professional licensing for real estate websites and rent-control/rent-stabilization
Author(s) -
Michael C. I. Nwogugu
Publication year - 2008
Publication title -
corporate ownership and control
Language(s) - English
Resource type - Journals
eISSN - 1810-0368
pISSN - 1727-9232
DOI - 10.22495/cocv6i1c3p7
Subject(s) - real estate , business , government (linguistics) , control (management) , statute , finance , human settlement , economics , law , management , linguistics , philosophy , political science , archaeology , history
In the US, MLS systems, professional licensing regimes for Real Estate Websites and rent-control/rent-stabilization statutes constitute violations of antitrust laws. Recent orders and proposed settlements in lawsuits instigated by government agencies have not resolved the underlying antitrust problems. Many of these antitrust issues influenced psychological reactions among market participants, which in turn caused the rapid price increases in some US real estate markets during 1995-2004. Thus, all existing housing demand models and housing price forecast models are grossly mis-specified primarily because they don’t incorporate legal factors.