The U.S. Justice Department is suing six major landlords. Here's why

The U.S. Justice Department's lawsuit claims large landlords coordinated to keep rents high using algorithms and sharing sensitive competitor information, exacerbating the housing crisis.

Half of American renters spent more than 30% of their income on rent and utilities in 2022, leading to tough decisions between necessary expenses and facing eviction.

The lawsuit focuses on six landlords controlling over 1.3 million units, accusing them of scheming to avoid lowering rents, further aggravating the struggles of U.S. renters.

Greystar Real Estate Partners claims it conducts business with integrity, denying any anti-competitive practices and stating that it will vigorously defend itself against the lawsuit.

Read at Fast Company