The U.S. Justice Department is suing several large landlords for allegedly using algorithms and sharing sensitive data to keep rent prices elevated across the nation.
The lawsuit highlights that half of American renters now spend over 30% of their income on housing, leading to difficult financial trade-offs that threaten their stability.
The Justice Department claims that these landlords, who control over 1.3 million rental units, intentionally colluded to avoid lowering rents amid a struggling housing market.
Greystar Real Estate Partners, one of the defendants in the lawsuit, stated it has conducted business with integrity and rejected any allegations of anti-competitive behavior.
Collection
[
|
...
]