Summary
The U.S. Justice Department, joined by 10 states, has sued six major landlords and RealPage, a company behind a rent-setting algorithm, accusing them of colluding to keep rents high by sharing sensitive pricing data and avoiding competition.
The landlords, operating over 1.3 million units, allegedly used RealPage’s algorithm and coordination to align rents, exacerbating the housing crisis.
One landlord has agreed to cooperate with prosecutors.
Critics argue this scheme worsens affordability issues for renters, who already face record rent burdens amid a strained housing market.
That shit is the norm lol. Every apartment I’ve ever lived in except for a very small one has been owned by these big corporations.
Thank god it’s not a monopoly though–there’s 6 different ones!!! 🥴