RealPage has agreed to settle an antitrust lawsuit raised by the Department of Justice, alleging that landlords used its tools to coordinate efforts to artificially raise rental prices across the US.

In a press release, the DOJ promised the proposed settlement “would help restore free market competition in rental markets for millions of American renters.”

For years since the pandemic started, rental prices outpaced inflation, and the DOJ suspected that RealPage was the dominant force driving a market that never favored renters. Recent Bureau of Labor Statistics data covering a 12-month period ending this September showed rents are still rising by 3.5 percent amid an affordability crisis, leaving some US renters in fear of housing instability.

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After years of pushback from the Federal Trade Commission over Meta’s acquisitions of Instagram and WhatsApp, Meta has defeated the FTC’s monopoly claims.

In a Tuesday ruling, US District Judge James Boasberg said the FTC failed to show that Meta has a monopoly in a market dubbed “personal social networking.” In that narrowly defined market, the FTC unsuccessfully argued, Meta supposedly faces only two rivals, Snapchat and MeWe, which struggle to compete due to its alleged monopoly.

But the days of grouping apps into “separate markets of social networking and social media” are over, Boasberg wrote. He cited the Greek philosopher Heraclitus, who “posited that no man can ever step into the same river twice,” while telling the FTC they missed their chance to block Meta’s purchase.

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