Berkeley becomes the latest city to ban the use of #realpage an algorithmic rental pricing software. "“It amounts to illegal price-fixing,” https://www.berkeleyside.org/2025/03/12/berkeley-bans-rent-pricing-software-realpage
Berkeley becomes the latest city to ban the use of #realpage an algorithmic rental pricing software. "“It amounts to illegal price-fixing,” https://www.berkeleyside.org/2025/03/12/berkeley-bans-rent-pricing-software-realpage
@ai6yr @GhostOnTheHalfShell @mappingsupport yes, this, every industry disruptor bro, same EXACT thing. #ServiceTitan #amazon #RealPage #airbnb #uber just keep adding them up. Some are even showing up at DOGE!
Another reason to squash the #AIRevolution!
#AI costs American #Renters over $3.6 billion annually, according to new report
Judd Legum
Jan 06, 2025
"The property management software used by many #corporate #landlords, #RealPage, is deploying AI to artificially inflate rental prices in the United States by more than $3.6 billion annually, according to a new report by the White House Council of Economic Advisers (CEA).
"RealPage, owned by the private equity firm Thoma Bravo, includes a tool called "AI Revenue Management" that provides recommendations for rental prices based on data from competitors. The feature, according to the CEA, the Department of Justice (DOJ), and class action lawsuits, facilitates 'price coordination.' It allows individual landlords to 'act as if they are a single dominant landlord, and use their collective market power to increase profits by setting higher prices.'"
Read more:
https://popular.info/p/ai-costs-american-renters-over-36
#FuckAI #AISucks #NoNukesforAI #AffordableHousing #CorporateLandlordsSuck
https://www.axios.com/2024/12/17/realpage-rent-landlords-white-house “in Atlanta, 68% of landlords of multifamily buildings use this software — and renters in those buildings paid an additional $181, on average, per month, per the CEA's analysis.” #atlanta #housing #shortage #antitrust #realpage #therentistoodamnhigh #denver #dallas
#DOJ Files Antitrust Suit Against #RealPage , Maker of #RentSettingAlgorithm
by #HeatherVogell 23 August 2024
https://www.youtube.com/watch?v=q5fs9F4Scq0
What is #RealPage? #DOJ Sues Software Firm Using #Algorithm Enavling Landlords to Fix HighRents
And the original @ProPublica reporting on the #RealPage #rental #housing price-fixing conspiracy. Ah, sweet #monopoly
https://www.propublica.org/article/yieldstar-rent-increase-realpage-rent
One wonders when Kelly, Edmunds, Cargurus, Carmax, Autotrader, Avis, Enterprise ... others will experience justice - wrapped up in an anti-competitive action...
The automobile industry is the worst where gouging and fixing prices are concerned.
IMHO.
The Department of Justice and eight states on Friday sued the maker of rent-setting software that
critics blame for sending rents soaring in apartment buildings across the country.
The civil lawsuit, filed in federal district court in Greensboro, North Carolina, accuses Texas tech company RealPage of
taking part in an #illegal #price-#fixing scheme to reduce competition among landlords so they can boost prices — and profits.
It also alleges the company took over the market for such price-setting software, effectively #monopolizing it.
“#RealPage has built a business out of frustrating the natural forces of vigorous competition,” said Assistant Attorney General Jonathan Kanter at a news conference Friday with top department officials.
“The time has come to stop this illegal conduct.”
The antitrust lawsuit is the latest
— and most dramatic
— development to follow a 2022 ProPublica investigation that examined RealPage’s role in helping landlords set rent prices across the country,
an arrangement that legal experts said could result in #cartel-like behavior.
Since then, senators have introduced legislation seeking to ban such practices,
tenants have filed dozens of ongoing federal lawsuits,
and San Francisco’s Board of Supervisors moved to bar landlords from using similar algorithms to set rents.
US sues RealPage, claims rental-pricing algorithm used by landlords is illegal - Enlarge / US Attorney General Merrick Garland speaks during a news conf... - https://arstechnica.com/?p=2045044 #realpage #policy
#RealPage says it isn't doing anything wrong by suggesting to #landlords how much #rent they could charge
Accused of using #algorithms to fix rental prices, RealPage goes on offensive
RealPage faces multiple antitrust lawsuits, promises "The Real Story" online. https://arstechnica.com/tech-policy/2024/07/accused-of-using-algorithms-to-fix-rental-prices-realpage-goes-on-offensive/
It is #collusion through an app/service, you're just outsourcing the act of conspiring to RealPage rather than meeting up in person.
San Francisco to ban software that “enables price collusion” by landlords - Enlarge / View of San Francisco with Russian Hill in the background. (c... - https://arstechnica.com/?p=2040600 #sanfranciscorealpage #realpage #policy #yardi
Accused of using algorithms to fix rental prices, RealPage goes on offensive - Enlarge
RealPage says it isn’t doing anything wrong by sugges... - https://arstechnica.com/?p=2037824 #syndication #algorithms #antitrust #realpage #policy
"Justice Dept preparing rental market collusion lawsuit:
The Biden admin has focused on reining in housing costs as a key part of its economic agenda.
#RealPage & dozens of property owners & managers are already the targets of a class-action lawsuit brought by renters. There are also suits filed by attorneys general in D.C. & Arizona. The North Carolina attorney general recently announced that his office is also investigating"
#priceGouging #rent #landlords #greedFlation
https://www.politico.com/news/2024/07/12/justice-department-rental-market-collusion-lawsuit-00167838
With the recent news about landlord price-fixing via Realpage leading to units being intentionally kept vacant in order to maximize gross rents I thought it'd be useful to repost this essay I wrote on it a while ago. It's a simple application of calculus to show that for landlords with two or more units it's often more profitable to set rents so high that some units will remain vacant. Supply and demand just does not apply to the rental market.
The rent is too dang high in Cities: Skylines 2, so the devs nuked the landlords - Enlarge / Remember, folks inside those polygons: If your housing feels ... - https://arstechnica.com/?p=2031406 #cities:skylines2 #simulationgames #citiesskylines #citybuilders #simulations #landlords #yieldstar #realpage #gaming #rent
And let's NOT forget that #HarlanCrow loves to collect hitler/nazi memorabilia.
#realPage #rentFixing #clarenceThomas #scotus
TENS OF MILLIONS OF RENTAL UNITS GOUGED: #inflation #greedflation
'A tip of the hat to Johnston, who opened the Mark Thompson Show on the 4th by noting a story that, so far as I can tell at this time, has been completely blacked out of the #news #mainstream #media.
On May 22, the FBI raided the Atlanta headquarters of Cortland Management...'
https://youtu.be/Jhg7ONLl6Ro?si=7ik3ztIu9r75gDu-
#RealPage #rentFixing #clarenceThomas #scotus
#HarlanCrow wields his inherited wealth and politics with great power. In 1999 he co-founded the ultra-conservative Club for Growth— a driving force behind Citizens United, which opened the door for unlimited dark money in politics— and which also invested over $20M to invalidate the 2020 election.
At the beginning of the 2008 Great Recession and the ensuing chaos, the Crow Empire was at the center of the financial crash.
https://jamesmartinnelson.com/2023/04/the-harlan-crow-clarence-thomas-connection-no-one-saw-coming-realpage/
#RealPage #rentFixing
#harlanCrow being an heir to a real estate empire is lost in the coverage of #thomas scandals. But it's a MAJOR way he exerts influence over our economy, democracy, & judiciary.
His ties to the National Multifamily Housing Council– a developer & corporate #landlords #lobbying group, led by Crow Holdings executive Ken Valach from 2022-24...represents nearly 2,000 abusive #privateEquity firms, developers, banks, & real estate software companies.
https://therevolvingdoorproject.org/harlan-crow-nmhc/