The U.S. Justice Department is suing several large landlords for allegedly coordinating to keep rents high by using algorithms and sharing sensitive information to boost profits.
Half of American renters spent more than 30% of their income on rent and utilities in 2022, resulting in difficult decisions between necessities and increasing eviction rates.
The Justice Department's lawsuit, supported by ten states, claims that six landlords managing over 1.3 million units colluded to avoid lowering rents during a housing crisis.
Landlord Greystar Real Estate Partners stated it would defend itself vigorously, maintaining it did not engage in any anti-competitive practices despite the accusations.
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