US Justice Department accuses six major landlords of scheming to keep rents high

[dalton99a]

https://apnews.com/article/algorithm-corporate-rent-housing-crisis-lawsuit-0849c1cb50d8a65d36dab5c84088ff53

US Justice Department accuses six major landlords of scheming to keep rents high
By JESSE BEDAYN
Updated 7:10 PM CST, January 7, 2025

DENVER (AP) — The U.S. Justice Department is suing several large landlords for allegedly coordinating to keep Americans’ rents high by using both an algorithm to help set rents and privately sharing sensitive information with their competitors to boost profits.

The lawsuit arrives as U.S. renters continue to struggle under a merciless housing market, with incomes failing to keep up with rent increases. The latest figures show that half of American renters spent more than 30% of their income on rent and utilities in 2022, an all-time high.

That means exhausting, day-to-day decisions between medications, groceries, school supplies and rent. It means eviction notices and protracted court cases in which children face the highest eviction rates, with 1.5 million evicted each year, according to Princeton University’s Eviction Lab.

While the housing crisis has been assigned several causes, including a slump in homes built over the last decade, the Justice Department’s lawsuit claims major landlords are playing a part.

The department, along with 10 states including North Carolina, Tennessee, Colorado and California, is accusing six landlords that collectively operate more than 1.3 million units in 43 states and the District of Columbia of scheming to avoid lowering rents.

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[intrepidity]

1. Death penalty. nt

[Skittles]

5. sure, Mangione

[LisaM]

2. One of these is my landlord.

They took over a few years ago from a company I liked much better. But moving is costly and difficult.

The problem is not the under supply of housing. The problem is absentee landlords and short term rentals, which municipalities refuse to regulate and people refuse to boycott.

[electric_blue68]

3. Good to see the DOJ is still doing some good stuff.

[GeoWilliam750]

4. Do we know who the landlords are?

[Blue_Roses]

7. I see two

but I didn't see anymore listed. Greystar --who was my landlord before Covid--over charged us for things when we moved out and never explained what the charges were for. I tried to fight it, but during Covid it was difficult.

The other one is RealPage. Never heard of them.

[IcyPeas]

6. Yay! Let's hear it for the greedy corporate landlords and their CEOs

[CousinIT]

8. Unfortunately this kind of public protection enforcement is soon to be extinct in DoJ

as SHitler and his crime syndicate get busy destroying our government agencies.

[Midnight Writer]

10. Exactly. In two weeks, the criminals will be running the Justice Department.

[Passages]

9. 1.3 million units in 43 states.

Bastards.