The Department of Justice’s Antitrust Division has opened an investigation into whether rent-setting software made by a Texas-based real estate tech company is facilitating collusion among landlords and allowing property managers to illegally coordinate their pricing. Read more»
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A U.S. Senate committee is asked the Federal Trade Commission to review whether the rent-setting software from Texas-based property tech company RealPage violates antitrust laws by helping big landlords operate as a cartel to push rents above competitive levels in some markets. Read more»
Renters filed a lawsuit this week alleging that RealPage -a company that makes price-setting software for apartments - and nine of the nation’s biggest property managers formed a cartel to artificially inflate rents in violation of federal law. Read more»
Amid a national housing crisis, giant private equity firms have been buying up apartment buildings en masse to squeeze them for profit, with the help of government-backed Freddie Mac. Meanwhile, tenants say they’re the ones paying the price. Read more»
A new legal filing by New York’s attorney general this week accused former President Donald Trump’s company of misleading lenders about the financial health of its landmark downtown Manhattan skyscraper, 40 Wall Street, while seeking to renew the building’s mortgage. Read more»
The president’s businesses made themselves appear more profitable to lenders and less profitable to tax officials. One expert calls the differing numbers “versions of fraud.” Read more»
Carson Luke, a young boy with autism, shattered bones in his hand and foot after educators grabbed him and tried to shut him into a “scream room.” Kids across the country risked similar harm at least 267,000 times in just one school year. Read more»