US Sues Six Major Landlords for Algorithmic Price Fixing

The US Department of Justice filed an antitrust lawsuit against six of the nation's largest landlords, accusing them of using algorithms to manipulate rental prices and harm renters. Cortland Management settled, agreeing to cooperate and cease using competitors' sensitive data. The lawsuit alleges these landlords colluded to fix prices by sharing data through common algorithms and direct communication, exchanging sensitive information like rent and occupancy rates. Software company RealPage is also implicated, accused of facilitating the price manipulation. The case raises concerns about algorithmic pricing and data sharing in real estate, highlighting the need for tech regulation.