Sen. Amy Klobuchar and other leading Democrats have asked the Department of Justice to examine Texas-based RealPage, which sells software to help landlords set apartment rental prices across the country.| ProPublica
RealPage has come under increasing fire from lawmakers and lawyers after ProPublica reported on its software’s potentially anti-competitive effects. Student housing is implicated.| ProPublica
I’ll get to the good and bad news of the week, but first I want to note the big story - Donald Trump’s conviction by a jury in New York - and a little story with big implications - the Federal Bureau of Investigation raiding a corporate landlord in cahoots with a nation-wide rent-fixing cartel that affects up to 16 million apartments.| www.thebignewsletter.com
WASHINGTON, DC – Attorney General Brian L. Schwalb today announced a lawsuit against RealPage, Inc. (RealPage) and 14 of the largest residential landlords in the District for colluding to illegally raise rents for tens of thousands of DC residents by collectively delegating price-setting authority to RealPage, which used a centralized pricing algorithm to inflate prices, costing renters millions of dollars.| oag.dc.gov
The scandal-plagued software company has hired a trio of Capitol Hill insiders to fend off regulatory scrutiny from Congress.| Revolving Door Project
Software-enabled price fixing schemes are pervasive in the economy, and are likely driving high prices. Why is it so hard to challenge these conspiracies under antitrust law?| www.thebignewsletter.com
Higher prices aren't just a result of supply chain chaos or government spending. Inflation is being driven by the pricing power and higher profits of corporations, costing $2,126 per American.| www.thebignewsletter.com
Texas-based RealPage’s YieldStar software helps landlords set prices for apartments across the U.S. With rents soaring, critics are concerned that the company’s proprietary algorithm is hurting competition.| ProPublica