7 sources·Politics

US Justice Department Sues Major Landlords for Antitrust Violations

The DOJ alleges six landlords conspired to inflate rents through algorithmic pricing and information sharing, exacerbating the housing crisis for renters.

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Updated: Jan 7th, 2025, 10:42 PM ET

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The US Justice Department has filed an antitrust lawsuit against six large landlords, including Cushman & Wakefield and Greystar, for allegedly colluding to inflate rental prices through the use of algorithmic software and sharing sensitive pricing information. The lawsuit, which includes support from 10 states, cites a dire housing market where half of renters spend over 30% of their income on housing. Greystar and others deny the allegations and plan to defend against the claims. Cortland Management, however, has settled with the DOJ, agreeing to reform its practices.

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US Justice Department Sues Major Landlords for Antitrust Violations - Pano News