The U.S. Justice Department is suing several large landlords for allegedly coordinating to keep Americans’ rents high.

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.

  • spujb@lemmy.cafeEnglish
    1·
    23 hours ago

    your point is valid, but needs nuance. perhaps try:

    having a significant surplus of units runs counter to the interests of landlords

    what number defines “significant surplus” varies based on market but it’s higher than you are imagining i think? simply having some empty units does not make a surplus; most landlords are good enough at business to prevent their surplus from being too massive and keep their profits up.