Hours before trial was set to begin last month, the Federal Trade Commission and five state attorneys general settled their antitrust case against Zillow and Redfin. While this was a major success, and the FTC should be proud, there is still more to be done.
More than 30% of American households rent. For most of them, the search begins and often ends inside one company’s ecosystem, which is a major violation of antitrust principles and laws.
The solution does not actually touch the cost of rent for average people.
Trending: Billy Crystal no longer trusts God. Christians should listen.
To be clear, the government was able to achieve much. In a $100 million deal, Zillow had paid Redfin to shut down its multifamily rental-advertising business, transfer its customers and salesforce, and stay out of the market for as
Continue reading
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!