https://www.entrepreneur.com/business-news/realpage-rent-price-fixing-probe-escalates-with-fbi-raid/475109
RealPage was accused of manipulating the rental market with higher rents. Its software affects millions of Americans.
I hope they fine all of them trillions and jail the top level people. They shouldn't be allowed to get away with this BS. There's been rampant price gouging, fixing, and collusion going on in this country for a long time now across industries and it sure would be nice if someone would do something to stop it.
Me too, but the pessimist in me thinks that the fine will work out to a 0.1% cost of doing business tax. Then publicly pinkie promise that they'll never do it again, while not stopping and showing no signs of stopping. 😓🙄😮💨
The rise of corporate landlords provides the incentive for all these bad actors. Fail to solve that and the gaming will surface in a new form in ten years. RealPage and other cretins are in business because they have only to make a dozen phonecalls to rental agents in any given city/municipality and they've got the bulk of supply co-operating. Any state/federal government that takes cost of living seriously will do everything it can to keep residential real estate ownership highly fragmented; anything else amounts to a default on citizens.
Agreed. Corporations should not be allowed to own housing. It has zero benefits for the public and little to no drawbacks for the corporation.
Sweet. Now go after every property organization cartel that offers "market pricing" where the price of a unit changes on a day-to-day basis.
We would publish a circular with a survey of local wages for the industries we serviced. It was funny how the wages on new job postings, even outside our region, would all fall to match. Almost like they weren't competing for new hires, they were colluding and using our circular to do so. I always juiced the numbers and gave the employees a few thousand extra a year where I could, but there's not much you can do.