The Department of Justice is expanding its investigation into the rental housing market.
The concern is that the company uses software that inputs confidential information – like how much landlords charge for rent – and spits out price recommendations for other landlords based on the data. This is called information sharing and it often results in higher prices.Federal Trade Commission
There is not much known about the investigation thus far because the Justice Department keeps its investigations confidential, but the agency hasin on other lawsuits brought against RealPage. They argue that the company uses replaced independent competitive decision-making on prices, which often results in lower rent prices for tenants.
The housing market may be cooling off, but home prices and rent are still higher than they were a year ago. In fact, according to Zillow’s mostAccording to Zillow,has the most expensive rental market, with an average rent of $3,223 per month. Next on the list are New York and Boston .
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