https://apnews.com/article/biden-housing-rent-cap-apartment-election-e60dde4e3dee48ee6790bf713466ae18
President Joe Biden is ready to propose a 5% cap on annual rent increases for tenants of major landlords.
cross-posted from: https://lemmy.world/post/17616123
Biden to call for 5% cap on annual rent increases, as he tries to show plans to tame inflation
You're right. It's a little late. Let's just not do it. 🙄
Edit: this "too little too late" attitude is short sighted and egocentric. Even if limiting rent increases does not have a direct effect on even a majority of individuals today, it will surely someday have an effect on somebody. If the last 8 years of political and legal turbulence has taught us anything, it's that we need to legally codify things that are "common sense". Not limiting rent increases now because it doesn't have an effect now ignores the entirety of future circumstance. We need to codify laws now that make the future better for our children, if not for us. Not doing so is short sighted and egocentric. We need to think futuristic and humanistic. We need to think objectively rather than relative to our current state.
You can do it, it's just not going to help anyone now that rents are declining after doubling.
Fed interest rates are almost the exact same 5%. Is that a problem? If so, then saving 5% is a solution. Is it the whole solution? No. But nothing ever is.
Would a 5% raise solve your financial problems? Probably not. So then, would you turn it down? Financial success is multi-faceted. No one solution will get you there. Take what you can and build up layer by layer.
You're not as clever as you think. That's not equivalent. You still get something out of a small raise.
You get nothing from a rent cap it rents have stopped rising. He should have done this 4 years ago.
This is not a multifaceted solution. It's an impotent one intended to fool people into believing he's making bold moves against rent inflation.
Great. Doing yet another thing to bring inflation and housing under conrtol. Fucking awesome.
The alternative orange idiot? He'd give landllords a tax break.
It's not even close. . .