If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
Remember when the American right decided that it hated (some) big businesses, specifically Big Tech? A whole branch of the Trump coalition (including JD Vance, Matt Gaetz and Josh Hawley) declared themselves to be "Khanservatives," a cheering section for Biden's generationally important FTC commissioner Lina Khan:
Trump owes his power to his ability to bully and flatter a big, distrustful coalition of people who mostly hate each other into acting together, like the business lobby and the grievance-saturated conspiratorialists who hate Big Tech because they were momentarily prevented from calling for genocide or peddling election disinformation:
The best framing for the MAGA war on Big Tech comes from Trashfuture's Riley Quinn, who predicted that the whole thing could be settled by tech companies' boards agreeing to open every meeting with a solemn "stolen likes acknowledgment" that made repentance for all the shadowbanned culture warriors whose clout had been poached by soy content moderators.
And that's basically what happened. Trump's antitrust agencies practiced "boss politics antitrust" in which favored courtiers were given free passes to violate the law, while Trump's enemies were threatened with punitive antitrust investigations until they fell into line:
Trump's antitrust boss Gail Slater talked a big game about "Trump Antitrust" but was thwarted at every turn by giant corporations who figured out that if they gave a million bucks to a MAGA podcaster, they could go over Slater's head and kill her enforcement actions. When Slater's deputy, Roger Alford, went public to denounce the sleazy backroom dealings that led to the approval of the HPE/Juniper merger, he was forced out of the agency altogether and replaced with a Pam Bondi loyalist who served as a kind of politburo political officer in Slater's agency:
Bondi made no secret of her contempt for Slater, and frequently humiliated her in public. Now it seems that Bondi has gotten tired of this game and has forced Slater out altogether. As ever, Matt Stoller has the best analysis of how this happened and what it means:
Stoller's main thesis is that the "conservative populist" movement only gained relevance by complaining about "censorship of conservatives" on the Big Tech platforms. While it's true that the platforms constitute an existential risk to free expression thanks to their chokehold over speech forums, it was always categorically untrue that conservatives were singled out by tech moderators:
Conservative populists' grievance-based politics is in contrast with the progressive wing of the anti-monopoly movement, which was concerned with the idea of concentrated power itself, and sought to dismantle and neuter the power of the business lobby and the billionaires who ran it:
The problem with conservative populism, then, is that its movement was propelled by the idea that Big Tech was soy and cucked and mean to conservatives. That meant that Big Tech bosses had an easy path out of its crosshairs: climb into the tank for MAGA.
That's just what they did: Musk bought Twitter; Zuck ordered his content moderators to censor the left and push MAGA influencers; Bezos neutered his newspaper in the run up to the 2024 elections; Tim Cook hand-assembled a gold participation trophy for Trump live on camera. These CEOs paid a million dollars each for seats on Trump's inauguration dais and their companies donated millions for Trump's Epstein Memorial Ballroom.
Slater's political assassination merely formalizes something that's been obvious for a year now: you can rip off the American people with impunity so long as you flatter and bribe Trump.
The HP/Juniper merger means that one company now supplies the majority of commercial-grade wifi routers, meaning that one company now controls all the public, commercial, and institutional internet you'll ever connect to. The merger was worth $14b, and Trump's trustbusters promised to kill it. So the companies paid MAGA influencer Mike Davis (who had publicly opposed the merger) a million bucks and he got Trump to overrule his own enforcers. Getting your $14b merger approved by slipping a podcaster a million bucks is a hell of a bargain.
HP/Juniper were first, but they weren't the last. There was the Discover/Capital One merger, which rolled up the two credit cards that low-waged people rely on the most, freeing the new company up for even more predatory practices, price-gouging, junk-fees, and strong-arm collections. When the bill collectors are at your door looking for thousands you owe from junk fees, remember that it was Gail Slater's weakness that sent them there:
Slater also waved through the rollup of a string of nursing homes by one of the world's most notoriously greedy and cruel private equity firms, KKR. When your grandma dies of dehydration in a dirty diaper, thank Gail Slater:
Slater approved the merger of Unitedhealth – a company notorious for overbilling the government while underdelivering to patients – with Amedisys, who provide hospice care and home health help:
The hits keep coming. Want to know why your next vacation was so expensive? Thank Slater for greenlighting the merger of American Express Global Business Travel and CWT Holdings, which Slater challenged but then dropped, reportedly because MAGA influencer Mike Davis told her to.
Davis also got Slater to reverse her opposition to the Compass/Anywhere Real Estate merger, which will make America's dysfunctional housing market even worse:
It's not just homebuyers whose lives are worse off because of Slater's failures, it's tenants, too. Slater settled the DoJ's case against Realpage, a price-fixing platform for landlords that is one of the most culpable villains in the affordability crisis. Realpage was facing an existential battle with the DoJ; instead, they got away with a wrist-slap and (crucially) are allowed to continue to make billions helping landlords rig the rental market against tenants.
So Slater's defenestration is really just a way of formalizing Trump's approach to antitrust: threaten and prosecute companies that don't bend the knee to the president, personally…and allow companies to rob the American people with impunity if they agree to kick up a percentage to the Oval Office.
But while Slater will barely rate a footnote in the history of the Trump administration, the precipitating event for her political execution is itself very interesting. Back in September, Trump posed with Kid Rock and announced that he was going after Ticketmaster/Live Nation, a combine with a long, exhaustively documented history of ripping off and defrauding every entertainer, fan and venue in America:
At the time, it was clear that Trump had been prodded into action by two factors: the incredible success of the Mamdani campaign's focus on "affordability" (Ticketmaster's above-inflation price hikes are one of the most visible symptoms of the affordability crisis) and Kid Rock's personal grievances about Ticketmaster.
Kid Rock is the biggest-name entertainer in the Trump coalition, the guy Trump got to headline a MAGA halftime show that notably failed to dim Bad Bunny's star by a single milliwatt. Trump – a failed Broadway producer – is also notoriously susceptible to random pronouncements by celebrities (hence the Fox and Friends-to-Trump policy pipeline), so it's natural that Kid Rock's grousing got action after decades of documented abuses went nowhere.
Ticketmaster could have solved the problem by offering to exempt Trump-loyal entertainers from its predatory practices. They could have announced a touring Trumpapalooza festival headlined by Kid Rock, Christian rock acts, and AI-generated country singers, free from all junk fees. Instead, they got Gail Slater fired.
Mike Davis doesn't just represent HPE/Juniper, Amex travel, and Compass/Anywhere – he's also the fixer that Ticketmaster hired to get off the hook with the DoJ. He's boasting about getting Slater fired:
What's interesting about all this is that there were elements of the Biden coalition that also hated antitrust (think of all the Biden billionaires who called for Lina Khan to be fired while serving as "proxies" for Kamala Harris). And yet, Biden's trustbusters did more in four short years than their predecessors managed over the preceding forty.
Stoller's theory is that the progressive anti-monopoly movement (the "Brandeisians") were able to best their coalitional rivals because they did the hard work of winning support for the idea of shattering corporate power itself – not just arguing that corporate power was bad when it was used against them.
This was a slower, harder road than dividing up the world into good monopolies and bad ones, but it paid off. Today the Brandeisians who made their bones under Biden are serving the like of Mamdani:
They lit a fire that burns still. Who knows, maybe someday it'll even help Kid Rock scorch the Ticketmaster ticks that are draining his blood from a thousand tiny wounds. He probably won't have the good manners to say thank you.
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Right-wing media embrace Trump policies that experts say increase housing costs
Right-wing media have continued to assist the Trump administration pivot to affordability after a slate of Democrats successfully ran on the
A fix would be to outlaw price-fixing rent software such RealPage, and its products YieldStar and AI Revenue.
Also there is AIRM and OneSite, which are also associated with RealPage's pricing algorithms.
It's not immigrants, it's oligarchs doing what they always do, charging whatever the market will bear which means, the costs will be too high for some.
These software packages are simply ways to collude in pricing. Users, owners of housing rentals, are required by contract to NOT CHARGE LESS than the software demands.
We don't need smoky back rooms to collude on prices anymore when software algorithms can do it for us.
I'm on a tour with my new book Enshittification: catch me next in Brooklyn, New Orleans and Chicago! Full schedule here. Tune into tonight's event with former FTC chair LINA KHAN at 19hET via the Brooklyn Public Library's livestream.
As the Marxist pamphleteer Adam Smith wrote in his Leninist textbook The Wealth of Nations, "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices."
For a commie, that Adam Smith sure had a fine grasp of the business mindset. Price-fixing conspiracies are as old as the lumber barons who gouged Noah, and they're illegal as hell.
But price-gougers gonna gouge, and for most of the past 40 years, regulators have been monumentally disinterested in protecting the public from these ripoffs. All our regulators asked was of the price-gougers was that they come up with the thinnest, least-convincing comb-over and in return, these regulators would pretend not to notice the glaring bald-spot shining through.
The one weird trick that these guys have hit upon is to use industry-wide "pricing consultancies" – clearinghouses that pretend to offer individualized price advice to each seller in a market. In reality what these companies do is aggregate all the prices charged by every major seller in the market, then advise all of them to raise their prices in sync:
When we talk about "greedflation," we don't just mean one seller – a major grocery chain, say – raising prices because they know they've got a regional lock on their market. That happens, but far more pernicious is when all the sellers get together to raise the price of goods, via a brokerage that lets them pretend (unconvincingly) that they're just getting "price advice."
Take Agri-Stats, a conspiracy in plain sight that gathers in pricing from all the major meat processors and then tells them all to jack up the price of meat:
Then there's Realpage, a conspiracy that gathers rental prices from all the landlords in your town and "advises" them all to jack up prices. Landlords who don't obey this "advice" get kicked out of the conspiracy:
These "price consultancies" are the reason you can't afford a hamburger or your apartment anymore. During the Biden administration, the Federal Trade Commission was working towards a nationwide ban on this stuff:
Of course, after Trump took office, his FTC canceled all that work and instead set up a snitch line where FTC employees could report on each other for being "woke." And, you know, fair: making sure that no one who works for the federal government has a pronoun is far more important than making sure you can afford to eat dinner and sleep indoors.
But (as the saying goes) the states are the laboratories of democracy. State legislatures are (sometimes) stepping in to fill the voids where Trump has failed the American people. That's what's just happened in California, the world's fourth largest economy, where Governor Newsom has just signed AB325 into law, and banned these price consultancies:
https://legiscan.com/CA/text/AB325/id/3269757
Specifically, the law makes it "unlawful for a person to use or distribute a common pricing algorithm if the person coerces another person to set or adopt a recommended price or commercial term recommended by the common pricing algorithm for the same or similar products or services."
As Matt Stoller writes, this may seem like small potatoes, but it's actually a huge ideological victory, and marks a major new milestone in the long fight to slay the political ideology that welcomes oligarchy:
Stoller recounts the history of this pro-oligarch movement, and describes how it began by rejecting earlier Supreme Court decisions that banned price coercion – like when a cartel forces its members to adopt higher prices. The Chicago School – the faction of economists who took over the world in the Reagan years – rejected any kind of politics that took account of the role that power played in the economy. They insisted that if workers accepted a starvation wage, it was because they had a "revealed preference" for going hungry – and not because they needed a union to force their bosses to pay them enough to live on.
The Chicago School replaced this kind of power-centric analysis with something they called "efficiency":
If you were coerced by a dominant supplier, but an economist showed there was no loss of output, then that was just vigorous competition. Gradually, the notion that the antitrust laws protect business from economic violence fell away. The result is an economy of coercion machines, from Amazon to pharmacy benefit managers to RealPage.
The mere existence of a law – in 2025, nearly half a century into the neoliberal era – that mentions "coercion" marks a profoud shift in ideology, a recovery of the idea that we are always under threat of "a conspiracy against the public…some contrivance to raise prices."
In a way, this just proves how right Trump is: the American way of life really is under threat from the radical Marxist ideology…of Adam Smith.
If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveill ance-free, ad-free, tracker-free blog:
Postmortems and blame for the 2024 elections are thick on the ground, but amidst all those theories and pointed fingers, one explanation looms large and credible: the American housing emergency. If the system can't put a roof over your head, that system needs to go.
American housing has been in crisis for decades, of course, but it keeps getting worse…and worse…and worse. Americans pay more for worse housing than at any time in their history. Homelessness is at a peak that is soul-crushing to witness and maddening to experience. We turned housing – a human necessity second only to air, food and water – into an asset governed almost entirely by market forces, and so created a crisis that has consumed the nation.
The Trump administration has no plan to deal with housing. Or rather, they do have plans, but strictly of the "bad ideas only" variety. Trump wants to deport 11m undocumented immigrants, and their families, including citizens and Green Card holders (otherwise, that would be "family separation" and that's cruel). Even if you are the kind of monster who can set aside the ghoulishness of solving your housing problems by throwing someone in a concentration camp at gunpoint and then deporting them to a country where they legitimately fear for their lives, this still doesn't solve the housing emergency, and will leave America several million homes short.
Their other solution? Deregulation and tax cuts. We've seen this movie before, and it's an R-rated horror flick. Financial deregulation created the speculative mortgage markets that led to the 2008 housing crisis, which created a seemingly permanent incapacity to build new homes in America, as skilled tradespeople retired or changed careers and housebuilding firms left the market. Handing giant tax cuts to the monopolists who gobbled up the remains of these bankrupt small companies minted a dozen new housing billionaires who preside over companies that make more money than ever by building fewer homes:
This isn't working. Homelessness is ballooning. The only answer Trump and his regime have for our homeless neighbors is to just make it a crime to be homeless, sweeping up homeless encampments and busting homeless people for "loitering" (that is, existing in space). There is no universe in which this reduces homelessness. People who lose their homes aren't going to dig holes, crawl inside, and pull the dirt down on top of themselves. If anything, sweeps and arrests will make homelessness worse, by destroying the possessions, medication and stability that homeless people need if they are to become housed.
Today, The American Prospect published an excellent package on the housing emergency, looking at its causes and the road-tested solutions that can work even when the federal government is doing everything it can to make the problem worse:
The Harris campaign ran on Biden's economic record, insisting that he had tamed inflation. It's true that the Biden admin took action against monopolists and greedflation, including criminal price-fixing companies like Realpage, which helps landlords coordinate illegal conspiracies to rig rents. Realpage sets the rents for the majority of homes in major metros, like Phoenix:
Of course, reducing inflation isn't the same as bringing prices down – it just means prices are going up more slowly. And sure, inflation is way down in many categories, but not in housing. In housing, inflation is accelerating:
The housing emergency makes everything else worse. Blue states are in danger of losing Congressional seats because people are leaving big cities: not because they want to, but because they literally can't afford to keep a roof over their heads. LGBTQ people fleeing fascist red state legislatures and their policies on trans and gay rights can't afford to move to the states where they will be allowed to simply live:
So what are the roots of this problem, and what can we do about it? The housing emergency doesn't have a unitary cause, but among the most important factors is fuckery that led to the Great Financial Crisis and the fuckery that followed on from it, as Ryan Cooper writes:
The Glass-Steagall Act was a 1933 banking regulation created to prevent Great Depression-style market crashes. It was killed in 1999 by Bill Clinton, who declared, "the Glass–Steagall law is no longer appropriate." Nine years later, the global economy melted down in a Great Depression-style market crash fueled by reckless speculation of the sort that Glass-Steagall had prohibited.
The crash of 2008 took down all kinds of industries, but none were so hard-hit as home-building (after all, mortgages were the raw material of the financial bubble that popped in 2008). After 2008, construction of new housing fell by 90% for the next two years. This protracted nuclear winter in the housing market killed many associated industries. Skilled tradespeople retrained, or "left the job market" (a euphemism for becoming disabled, homeless, or destroyed). Waves of bankruptcies swept through the construction industry. The construction workforce didn't recover to pre-crisis levels for 16 years (and of course, by then, there was a huge backlog of unbuilt homes, and a larger population seeking housing).
Meanwhile, the collapse of every part of the housing supply chain – from raw materials to producers – set the stage for monopoly rollups, with the biggest firms gobbling up all these distressed smaller firms. Thanks to this massive consolidation, homebuilders were able to build fewer houses and extract higher profits by gouging on price. They doubled down on this monopoly price-gouging during the pandemic supply shocks, raising prices well above the pandemic shortage costs.
The housing market is monopolized in ways that will be familiar to anyone angry about consolidation in other markets – from eyeglasses to pharma to tech. One builder, HR Horton, is the largest player in 3 of the country's largest markets, and it has tripled its profits since 2005 while building half as many houses. Modern homebuilders don't build: they use their scale to get land at knock-down rates, slow-walk the planning process, and then farm out the work to actual construction firms at rates that barely keep the lights on:
Monopolists can increase profits by constraining supply. 60% of US markets are "highly concentrated" and the companies that dominate these markets are starving homebuilding in them to the tune of $106b/year:
There are some obvious fixes to this, but they are either unlikely under Trump (antitrust action to break up builders based on their share in each market) or impossible to imagine (closing tax loopholes that benefit large building firms). Likewise, we could create a "homes guarantee" that would act as an "automatic stabilizer." That would mean that any time the economy slips into recession, this would trigger automatic funding to pay firms to build public housing, thus stimulating the economy and alleviating the housing supply crisis:
The Homes Guarantee is further explained in a separate article in the package by Sulma Arias from People's Action, who describes how grassroots activists fighting redlining planted the seeds of a legal guarantee of a home:
Arias describes the path to a right to a home as running through the mass provision of public housing – and what makes that so exciting is that public housing can be funded, administered and built by local or state governments, meaning this is a thing that can happen even in the face of a hostile or indifferent federal regime.
In Paul E Williams's story on FIMBY (finance in my back yard), the executive director of Center for Public Enterprise offers an inspirational story of how local governments can provide thousands of homes:
Williams recounts the events of 2021 in Montgomery County, Maryland, where a county agency stepped in to loan money to a property developer who had land, zoning approval and work crews to build a major new housing block, but couldn't find finance. Montgomery County's Housing Opportunities Commission made a short-term loan at market rates to the developer.
By 2023, the building was up and the loan had been repaid. All 268 units are occupied and a third are rented at rates tailored to low-income tenants. The HOC is the permanent owner of those homes. It worked so well that Montgomery's HOC is on track to build 3,000 more public homes this way:
Other – in red states! – have followed suit, with lookalike funds and projects in Atlanta and Chattanooga, with "dozens" more plans underway at state and local levels. The Massachusetts Momentum Fund is set to fund 40,000 homes.
The Center for Public Enterprise has a whole report on these "Government Sponsored Enterprises" and the role they can play in creating a supply of homes priced at a rate that working people can afford:
Of course, for a GSE to loan money to build a home, that home has to be possible. YIMBYs are right to point to restrictive zoning as a major impediment to building new homes, and Robert Cruickshank from California YIMBY has a piece breaking down the strategy for fixing zoning:
Cruickshank lays out NIMBY success stories in cities like Austin and Minneapolis adopting YIMBY-style zoning rules and seeing significant improvements in rental prices. These success stories are representative of a broader recognition – at least among Democratic politicians – that restrictive zoning is a major contributor to the housing emergency.
Repeating these successes in the rest of the country will take a long time, and in the meantime, American tenants are sitting ducks for predatory landlords, With criminal enterprises like Realpage enabling collusive price-fixing for housing and monopoly developers deliberately restricting supplies to keep prices up (a recent Blackrock investor communique gloated over the undersupply of housing as a source of profits for its massive portfolio of rental properties), tenants pay more and more of their paychecks for worse and worse accommodations. They can't wait for the housing emergency to be solved through zoning changes and public housing. They need relief now.
That's where tenants' unions come in, as Ruthy Gourevitch and Tara Raghuveer of the Tenant Union Federation writes in their piece on the tenants across the country who are coordinating rent strikes to protest obscene rent-hikes and dangerous living conditions:
They describe a country where tenants work multiple jobs, send the majority of their take-home pay to their landlords – a quarter of tenants pay 70% of their wages in rent – and live in vermin-filled homes without heat or ventilation:
Public money from Freddie Mae and Fannie Mac flood into the speculative market for multifamily homes, a largely unregulated, subsidized speculative bonanza that lets the wealthy make bets and the poor pay their losses.
In response, tenants unions are popping up all across the country, especially in red state cities like Bozeman, MT and Louisville, KY. They organize for "just cause" evictions that ban landlords from taking their homes away. They seek fair housing voucher distribution practices. They seek to close eviction loopholes like the LA wheeze that lets landlords kick you out following "renovations."
The National Tenant Policy Agenda demands "national rent caps, anti-eviction protections, habitability standards, and antitrust action," measures that would immediately and profoundly improve the lives of millions of American workers:
They caution that it's not enough to merely increase housing supply. Without a strong countervailing force from organized tenants, new housing can be just another source of extraction and speculation for the rich. They say that the Federal Housing Finance Agency – regulator for Fannie and Freddie – could play an active role in ensuring that new housing addresses the needs of people, not corporations.
In the meantime, a tenants' union in KC successfully used a rent strike – where every tenant in a building refuses to pay rent – to get millions in overdue repairs. More strikes are planned across the country.
The American system is in crisis. A country that cannot house its people is a failure. As Rachael Dziaba writes in the final piece for the package, the situation is so bad that water has started to flow uphill: the cities with the most inward migration have the least job growth:
It's not just housing, of course. Americans pay more for health care than anyone else in the rich world and get worse outcomes than anyone else in the rich world. Their monopoly grocers have spiked their food prices. The incoming administration has declared war on public education and seeks to relegate poor children to unsupervised schools where "education" can consist of filling in forms on a Chromebook and learning that the Earth is only 5,000 years old.
A system that can't shelter, feed, educate or care for its people is a failure. People in failed states will vote for anyone who promises to tear the system down. The decision to turn life's necessities over to unregulated, uncaring markets has produced a populace who are so desperate for change, they'll even vote for their own destruction.
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Did you rent an apartment sometime in the last ~7 years? You may be eligible for class action lawsuit settlement $ through "In re Realpage, Inc., Rental Software Antitrust Litigation (No. II)." You can sign up to get updates when they get to the "send me money plz" step of the lawsuit, but they aren't there yet.
Here's the specific eligibility prompt:
"If you paid rent for an apartment owned or managed by any of the below-listed companies at any time from October 18, 2018 through November 21, 2025, you may be entitled to money from $141,800,000 in settlements."
The list:
Allied Orion Group, LLC
Apartment Income REIT Corp., d/b/a AIR Communities
Apartment Management Consultants, LLC
Avenue5 Residential, LLC
Bell Partners, Inc.
BH Management Services, LLC
Bozzuto Management Company
Brookfield Properties Multifamily LLC
Camden Property Trust
CH Real Estate Services, LLC
CONAM Management Corporation
CONTI Texas Organization, Inc., d/b/a CONTI Capital
Cortland Management, LLC
Cortland Partners, LLC
Crow Holdings, LP
CWS Apartment Homes LLC
Dayrise Residential, LLC
ECI Group, Inc.
Equity Residential
Essex Property Trust, Inc.
First Communities Management, Inc.
FPI Management, Inc.
Greystar Management Services, LLC
Highmark Residential, LLC
Independence Realty Trust, Inc.
Kairoi Management, LLC
Knightvest Residential
Lantower Luxury Living, LLC
Lincoln Property Co.
Mid-America Apartments, L.P.
Mid-America Communities, Inc.
Mission Rock Residential, LLC
Morgan Properties Management Co., LLC
Pinnacle Property Management Services, LLC
Prometheus Real Estate Group, Inc.
Related Management Company L.P.
Rose Associates, Inc.
RPM Living, LLC
Sares Regis Group Commercial, Inc.
Security Properties Residential, LLC
Sherman Associates, Inc.
Simpson Property Group, LLC
The Related Companies, L.P.
Thrive Communities Management, LLC
Trammell Crow Residential Company
UDR, Inc.
Windsor Property Management Company
Winn Residential Manager Corp.
WinnCompanies LLC
ZRS Management, LLC
DOJ settles with RealPage over its software program’s alleged hire value fixing
The Division of Justice has introduced a settlement with RealPage, the broadly used rent-setting software program that it accused of partaking in collusion to drive up hire costs by sharing beforehand personal info from competing landlords. The settlement places limits on RealPage’s skill to gather and use that information, and blocks it from getting used to set rents.
Final yr, the DOJ and a…
