Justice Department preparing rental market collusion lawsuit

[Passages]

The Biden administration has focused on reining in housing costs as a key part of its economic agenda.



By JOSH SISCO

07/12/2024 02:57 PM EDT

The Justice Department is gearing up to challenge what it says is collusive conduct in the rental housing market with a lawsuit against a software company that it believes allows large landlords to fix prices.

The DOJ is planning to sue RealPage Inc., a software company used by landlords across the country, according to two people with knowledge of the matter.

DOJ staff recently recommended a civil lawsuit against RealPage that would accuse the company of selling software that enables landlords to illegally share confidential pricing information in order to collude on setting rents. The recommendation escalates the investigation to the antitrust division’s leadership, including Assistant Attorney General Jonathan Kanter. Also on the table for a complaint is the landlords’ ability to use the software to match vacancy rates, essentially restricting supply, at competing buildings in the same rental market, said the people, who were granted anonymity to discuss a confidential investigation.

SNIP
The Biden administration has made cracking down on anti-competitive activity a cornerstone of its domestic economic agenda, and antitrust enforcers at the DOJ and Federal Trade Commission are key to that goal.
https://www.politico.com/news/2024/07/12/justice-department-rental-market-collusion-lawsuit-00167838


Pres. Bidens Justice Warriors.

[Fiendish Thingy]

1. That's gonna piss off some millionaires

But will hopefully win some votes from young voters.