America’s 10 Largest Landlords, In Collusion With Over 20,000 Smaller Landlords, Formed An Illegal Price Cartel

From Bloomberg Law: You can read the filing here, and it includes gems like the following: “…beginning in approximately 2016, and potentially earlier, Lessors replaced their independent pricing and supply decisions with collusion. Lessors agreed to use a common third party that collected real-time pricing and supply levels, and then used that data to make unit-specific pricing and supply recommendations. Lessors also agreed to follow these recommendations, on the expectation that competing Lessors would do the same.” … “As of December 31, 2019, RealPage had over 29,800 clients, including each of the ten largest multifamily property management companies in the U.S.” There's also additional reading on the matter: https://arstechnica.com/information-technology/2022/10/rent-going-up-one-companys-algorithm-could-be-why/2/ https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent https://www.propublica.org/article/realpage-accused-of-collusion-in-new-lawsuit