Washington, D.C. — In response to new legislation Senator Ron Wyden has introduced to enhance antitrust law enforcement against algorithmic price setting tools in the rental market, recognizing these data sharing tools as price fixing agreements, the American Economic Liberties Project released the following statement.

“Widespread use of price fixing software represents a new front in the housing affordability crisis,” said Lee Hepner, Legal Counsel at the American Economic Liberties Project. “RealPage boasts that its software can hike rents by double digits, supercharging housing costs for Americans already struggling to keep a roof over their heads. Real wages have increased under the Biden Administration, but if we do nothing to curb rent gouging by Wall Street investors, it’s one step forward, two steps back.”

“Senator Wyden’s bill makes clear that using third party algorithms to set prices or restrict supply in the rental market is no different under the law than already-illegal price-fixing agreements,” Hepner added. “This legislation is an important step to protect renters from being gouged with artificially inflated rents, and we look forward to continued engagement with Senator Wyden’s office to ensure it becomes law.”

Senator Wyden’s proposed legislation aims to make it unlawful for property owners to enter into agreements with firms that manage and synchronize rent prices with housing supply data. It would broadly prohibit any form of collaboration between two or more landlords with respect to rent, occupancy levels, or other aspects of tenancy. The bill also seeks to prevent consolidation of businesses that specialize in coordinating such information. And it comes just days after the publication of a report showing rental housing is unaffordable for a record number of Americans—a trend that has been driven by pricing software like RealPage in several cities.

Learn more about Economic Liberties here.

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The American Economic Liberties Project works to ensure America’s system of commerce is structured to advance, rather than undermine, economic liberty, fair commerce, and a secure, inclusive democracy. Economic Liberties believes true economic liberty means entrepreneurs and businesses large and small succeed on the merits of their ideas and hard work; commerce empowers consumers, workers, farmers, and engineers instead of subjecting them to discrimination and abuse from financiers and monopolists; foreign trade arrangements support domestic security and democracy; and wealth is broadly distributed to support equitable political power.