The U.S. Department of Justice has filed a complaint against six major apartment landlords alleging their involvement in a scheme to artificially inflate rents, affecting millions of renters.
The firms named in the complaint, including Greystar and Blackstone's LivCor, control over 1.3 million rental units nationwide, raising questions about market monopolies.
Rent has become exorbitantly high, and accusations suggest landlords are colluding to maintain inflated prices, which is a significant barrier for young people and first-time buyers.
The idea that millennials prefer renting over buying homes distracts from the real issue: systemic practices by large firms that make homeownership nearly impossible for many.
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