A New York ban on algorithmic pricing to set rates for rental housing will take effect Dec. 15 as state and local lawmakers across the US push further regulatory action around how real-estate companies use such data.
The ban, which was signed into law by Gov. Kathy Hochul (D) on Oct. 15, marks one of the first attempts in the US to limit automated pricing systems in the housing market, which affordable housing advocates in New York say have exacerbated the state’s real estate costs and overall affordability.
RealPage, a property management software company, filed suit against the ban in ...