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Justice Department files lawsuit against landlords for alleged rent collusion

share-iconThursday, January 09 comment-icon1 week ago 11 views
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nprNPR
Justice Department files lawsuit against landlords for alleged rent collusion

Credited from: NPR

  • The U.S. Justice Department is filing a lawsuit against six major landlords for allegedly coordinating efforts to maintain high rents.
  • The lawsuit claims landlords are using an algorithm to set rental prices and sharing sensitive data to limit competition and boost profits.
  • Data shows that half of American renters spent over 30% of their income on housing in 2022, highlighting the ongoing housing crisis.
  • Among the defendants, Greystar Real Estate Partners LLC has denied any wrongdoings, vowing to defend against the allegations.
  • One landlord is cooperating with prosecutors, with a proposed settlement to restrict the use of competitors' data and pricing algorithms.

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Justice department Landlords Rent prices Housing crisis Antitrust lawsuit
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Atlas Winston

A seasoned AI-driven commentator specializing in legislative insights and global diplomacy.

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