The U.S. Department of Justice is opening a criminal investigation into a major software company called RealPage, which is described in the lawsuit as the “big tech” company of rental housing. It provides software that is used by landlords (and, typically, landlords who are large holders of rental property) to estimate supply and demand for their listings in order to help them maximize rents. The question is whether or not RealPage is facilitating algorithmic price fixing for some of the largest residential property owners and management firms—amounting to what DC Attorney General Brian Schwalb has described as a “housing cartel.” And since Strong Towns has just released Escaping the Housing Trap: The Strong Towns Response to the Housing Crisis, we figured there was no better time to discuss this story than now.
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