14 big landlords used software to collude on rent prices, DC lawsuit says::Suit claims employees were told pricing outside the algorithm was “unacceptable.”
This is how all industries work. There is no free market competition in anything. Bakeries collude on bread prices. Chocolateira collude on candy bar prices. Etc etc. This is what happens when government kneels to business lobbyists instead of regulating business.
PeleSpirit@lemmy.world 7 months ago
I hope people understand how this drives up rent prices in your area, it’s insane. They’re price fixing.
agent_flounder@lemmy.world 7 months ago
Theoretically that is illegal.
Penalties for this should be severe. Like, impounding company assets and destroying them.
plz1@lemmy.world 7 months ago
The fine of 1% of last quarter’s profits will ensure they learn their lesson.
onion@feddit.de 7 months ago
Turn their properties into a coop and give the shares to the tenants
Rubanski@lemm.ee 7 months ago
Corporate death penalty
psycho_driver@lemmy.world 7 months ago
Take one of the owner’s private jets away.
buzz86us@lemmy.world 7 months ago
Yup I got hit with this nonsense… Right during the pandemic when I had no money… $525->$800