Rents soared thanks to a shortage of apartment units, remote workers' desire for more space, and a daunting for-sale market that kept many renters stuck in place.
Without RealPage, the plaintiffs argue, landlords would be hesitant to jack up rents; instead, they'd focus on keeping their buildings full.
In short, the lawsuits that started with apartment rents could one day change how we pay for everything.
By turning over pricing to the algorithm, plaintiffs say, RealPage's clients are encouraged to push rents higher than if they'd left the decisions up to humans.
The RealPage cases are about far more than apartment rents.
Persons:
RealPage, Kris Mayes, they'll, they'd, —, Zillow, there's, Marie Claire Tran, Leung, Tran, Matt Damon, Maureen Ohlhausen, Bob, Ohlhausen, Ed Rogers, Ballard Spahr, Jeffery Cross, Smith Gambrell Russell, didn't, it'll
Organizations:
Revenue Management, ProPublica, National Housing Law, FBI, RealPage, Department, Federal Trade Commission, Politico, Washington, Justice Department, FTC
Locations:
Texas, you've, Phoenix, Tucson, Washington, DC, RealPage, Arizona, Tennessee