Rent Too High? Blame AI, New Report Finds

Rent Too High? Blame AI, New Report Finds
futurism.com

by Frank Landymore • 1 month ago

A new report by the White House Council of Economic Advisers reveals that landlords using RealPage's AI tool, "AI Revenue Management," are collectively inflating rents by over $3.8 billion annually. The AI facilitates collusion among landlords, effectively acting as a price-fixing mechanism, which is illegal under the Sherman Act. As nearly one in four multifamily properties utilize this software, the report suggests that the true cost of inflated rents is likely even higher.

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