In a bold move to hold corporate profiteers accountable, the DOJ Antitrust Division added six corporate landlords to their lawsuit against RealPage for “participating in algorithmic pricing schemes that harmed renters.”
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The six landlords—Greystar, Blackstone’s LivCor, Camden, Cushman & Wakefield, Willow Bridge and Cortland—operate more than 1.3 million units in 43 states and DC.
They coordinated with RealPage to set rent prices, sharing sensitive pricing and occupancy information.
Acting AAG Doha Mekki said the move against RealPage and the six corporate landlords “seeks to end their practice of putting profits over people and make housing more affordable for millions of people across the country.”
In December, the White House estimated that corporations like RealPage cost renters across the US an average of $70 dollars a month by facilitating price coordination among landlords, totaling up to billions.
RealPage and its corporate landlords clients like Greystar, Camden and Cortland are the exact kind of villain everyday Americans wanted to see Harris confront on the campaign trail.
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They coordinated with RealPage to set rent prices, sharing sensitive pricing and occupancy information.
https://www.whitehouse.gov/cea/written-materials/2024/12/17/the-cost-of-anticompetitive-pricing-algorithms-in-rental-housing/