In an alleged April 2022 conversation, a LivCor executive suggested raising rents by 20%, to which a Camden executive responded, 'I like your thinking.'
Christa Stoneham, CEO of the Houston Land Bank, stated that many people seeking homes are discouraged by rapidly rising rents, which they seem to be exploited by landlords.
The DOJ's lawsuit highlights the landlords' coordinated efforts to maintain high rents, described as 'collaborating' and 'conspiring' by a legal analyst.
According to the lawsuit, landlords utilized YieldStar software to gather non-public rental data, creating an 'artificially high market for rents'.
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