Biden Proposing 5% Cap on Housing Rents

[Dekster]

I addressed your point ("guarantee that rental property goes straight toward ghetto condition as it would not allow for improvements and maintenance.") a dozen times, and refuted it entirely.

Whatever make you feel superior. Capping rent increases means landlords will either let them fall down or convert them to high end units, the latter of which is precisely why California's housing caps have shortened the supply of affordable housing even further. And none of that changes that real estate is not interstate in any remote sense of the word. The SCOTUS would smack that thing down in short order assuming The Furor could even get it passed, which he won't in his 6 months left in office.

 

[protectionist]

They're making money on paper through the increase in value and equity of the property. How many of the private owners of these rent-controlled properties have become known as slum lords because they can't afford to maintain the properties due to rent control? Think critically, try it sometime.

Not very many, judging by the MILES & MILES of buildings, across 5 boroughs, that are in great shape now, and don't look a bit different than they did 70 or 80 years ago - including the building and the whole street that I was raised in.

Never debate something you know nothing about, and the other person is an expert on that subject.
The building I was raised in, in the Fort George neighborhood of upper Manhattan (New York City) was built in 1908.
And I lived in it from 1946 to 1967 (visited it until 1977) and under rent control the entire time. Good condition - then & now.. Same with dozens of other buildings throughout the neighborhood. All rent controlled, no shortages, no buildings abandoned. Nothing destroyed. Everything now as it was 75 years ago.

This is a recent picture of the street (Ellwood St - 197 St) that I grew up in, in the 1940s & 50s. If this picture were taken then, it wouldn't look one iota different than it looks right here in the 2020s.

 

[protectionist]

Whatever make you feel superior. Capping rent increases means landlords will either let them fall down or convert them to high end units, the latter of which is precisely why California's housing caps have shortened the supply of affordable housing even further. And none of that changes that real estate is not interstate in any remote sense of the word. The SCOTUS would smack that thing down in short order assuming The Furor could even get it passed, which he won't in his 6 months left in office.

But they DON'T let them fall down. That is only landlord propaganda.
See post # 182.

 

[Concerned American]

Have you seen the size of these New York apartments? Instead of raising the rent, the shrink the apartments.

Has it gotten as bad as Japan's capsule apartments? They've been using these for about 40 years now.

 

[Concerned American]

Not very many, judging by the MILES & MILES of buildings, across 5 boroughs, that are in great shape now, and don't look a bit different than they did 70 or 80 years ago - including the building and the whole street that I was raised in.

Never debate something you know nothing about, and the other person is an expert on that subject.
The building I was raised in, in the Fort George neighborhood of upper Manhattan (New York City) was built in 1908.
And I lived in it from 1946 to 1967 (visited it until 1977) and under rent control the entire time. Good condition - then & now.. Same with dozens of other buildings throughout the neighborhood. All rent controlled, no shortages, no buildings abandoned. Nothing destroyed. Everything now as it was 75 years ago.

This is a recent picture of the street (Ellwood St - 197 St) that I grew up in, in the 1940s & 50s. If this picture were taken then, it wouldn't look one iota different than it looks right here in the 2020s.

But you won't return there because it is a shithole by your own description. You know why it's a shithole? Because of stupid commie policies like that.

 

[sparky]

Some want the government to control the market thinking it's an economic remedy

The problem i have with that, is they do not lead by example

For starters, can you tell me what the tax payer puts out annually in this 'rental'>>>>

~S~

 

[Toddsterpatriot]

Aren't there any business owners in this forum ? Do you guys enjoy having your sales taken away from you ? Sheeesh!

Fuck off you whiney commie twat.

 

[Independent thinker]

This proposal is potent. There are 112 Million renters in America (34% of the total population).
There are also 32.2 Million businesses. Together these translate into a ton of votes.

If Trump does not reciprocate and propose a rent control law himself (of 5% or lower), he could be handing Biden the election. After the astronomical rent increases of the last few years, to renters and business owners, this is the most serious issue in America. Both have taken a huge hit economically, by the enormously higher rents.

Biden to call for 5% cap on annual rent increases, a critical issue for voters

Corporate landlords would lose the ability to write off depreciation values from their units if they increase tenants' rent more than 5%.

www.aol.com

The Number of Businesses in the USA and Statistics for 2024

The United States has 33.2 million of businesses in 2024. This article include various statistics on business statistics on sectors and more.

www.clearlypayments.com

Decade in review: Number of U.S. renters surpasses 100 million - HousingWire

A recent Rentcafé study shows renter rates have climbed across the country as more and more Americans are now choosing to rent instead of own.

www.housingwire.com

You guys are too funny. Assuming Biden gets inflation back down to 2%, that means that everyone will be paying 2% more for everything on top of Biden's already 20% inflation but if inflation is at 2% Biden promises rents won't go up by any more than 5%, which means you're losing ground. And, you stupid idiots don't even read the fine print. The 5% only applies to landlords receiving government subsidies. Other landlords could raise their rents to anything they wanted.

 

[Concerned American]

You guys are too funny. Assuming Biden gets inflation back down to 2%, that means that everyone will be paying 2% more for everything on top of Biden's already 20% inflation but if inflation is at 2% Biden promises rents won't go up by any more than 5%, which means you're losing ground. And, you stupid idiots don't even read the fine print. The 5% only applies to landlords receiving government subsidies. Other landlords could raise their rents to anything they wanted.

A thought occurred to me that Biden can't make laws that are not involved in interstate commerce. So if it is a local land owner, Biden's ruling, if he somehow got it passed, wouldn't apply.

 

[Kondor3]

This proposal is potent. There are 112 Million renters in America (34% of the total population).
There are also 32.2 Million businesses. Together these translate into a ton of votes.

If Trump does not reciprocate and propose a rent control law himself (of 5% or lower), he could be handing Biden the election. After the astronomical rent increases of the last few years, to renters and business owners, this is the most serious issue in America. Both have taken a huge hit economically, by the enormously higher rents.

Biden to call for 5% cap on annual rent increases, a critical issue for voters

Corporate landlords would lose the ability to write off depreciation values from their units if they increase tenants' rent more than 5%.

www.aol.com

The Number of Businesses in the USA and Statistics for 2024

The United States has 33.2 million of businesses in 2024. This article include various statistics on business statistics on sectors and more.

www.clearlypayments.com

Decade in review: Number of U.S. renters surpasses 100 million - HousingWire

A recent Rentcafé study shows renter rates have climbed across the country as more and more Americans are now choosing to rent instead of own.

www.housingwire.com

I can see it now.... a wave of rental property sales at bargain-basement prices... slumlord growth-bubble, anybody?

 

[Independent thinker]

A thought occurred to me that Biden can't make laws that are not involved in interstate commerce. So if it is a local land owner, Biden's ruling, if he somehow got it passed, wouldn't apply.

Biden is getting desperate right now and coming out with a bunch of shit to buy votes, knowing full well he can't possibly deliver his promises.

 

[justoffal]

This proposal is potent. There are 112 Million renters in America (34% of the total population).
There are also 32.2 Million businesses. Together these translate into a ton of votes.

If Trump does not reciprocate and propose a rent control law himself (of 5% or lower), he could be handing Biden the election. After the astronomical rent increases of the last few years, to renters and business owners, this is the most serious issue in America. Both have taken a huge hit economically, by the enormously higher rents.

Biden to call for 5% cap on annual rent increases, a critical issue for voters

Corporate landlords would lose the ability to write off depreciation values from their units if they increase tenants' rent more than 5%.

www.aol.com

The Number of Businesses in the USA and Statistics for 2024

The United States has 33.2 million of businesses in 2024. This article include various statistics on business statistics on sectors and more.

www.clearlypayments.com

Decade in review: Number of U.S. renters surpasses 100 million - HousingWire

A recent Rentcafé study shows renter rates have climbed across the country as more and more Americans are now choosing to rent instead of own.

www.housingwire.com

Unfortunately it doesn't go far enough. A cap on something that's already excessive only guarantees that it will continue to be abusive.

 

[justoffal]

I can see it now.... a wave of rental property sales at bargain-basement prices... slumlord growth-bubble, anybody?

That's exactly what would happen.... You have to remember these are the people that think that the rich guys have their money.

 

[Concerned American]

Biden is getting desperate right now and coming out with a bunch of shit to buy votes, knowing full well he can't possibly deliver his promises.

He and the democrats have been pandering for votes since he got into office.

 

[Kondor3]

He and the democrats have been pandering for votes since he got into office.

Both parties are overflowing with Vote Whores...

 

[Concerned American]

Both parties are overflowing with Vote Whores...

To an extent. The democrats hold the crown however. Divisive identity politics, student loan forgiveness, racially based legislation and hiring practices, importing new citizens, rental caps, etc.

 

[DigitalDrifter]

There's never been a president that works to buy votes like this clown.

 

[Slyhunter]

If you were one of the people who shorted the stock, you got reamed for it. Just like the guys who shorted Gamestop and at the big losses on that one. I dont short, because i dont play dailies, because i am too small an investor. I buy a stock for long term, and give it an end date or price.

yeah the CiA did their best to give him time to kill Trump but for some inane reason he started firing into the crowd.

 

[Slyhunter]

Social Security was never meant to be your sole source of income in retirement. VA pensions are kind of a joke unless you retired a lieutenant colonel. You needed to plan for this. I think we can agree it's not my responsibility to work overtime to pay your bills. At 78 you can't work a job really. You could find other retirees in the same situation, pool your SS and pensions and rent a place together. Or move in with your kids, I know a number of retirees who have done that. While I can sympathize with your situation, I don't want my retirement savings drained to pay for other people's lack of proper retirement planning. I passed on buying the boats and cars and instead put my money away. I passed on vacations and blowing money on credit cards to make sure my house was paid off in retirement. I should not now be penalized like I'm getting stuck with stupid people's student loan debt.

I heard you can live like a king with a 20 year old girlfriend in the fillipines on SSA.

 

[Slyhunter]

And many of those buildings are now without occupancy. Losing money because there are better places to live. I moved from Va to Florida because of the state tax. When i left i got a $30,000 pay raise not paying state tax. Made paying a mortgage a lot easier.

yeah but you made our rents go up from 1175 to 1800 making it too expensive for a Floridian to live on a Floridian wage. Houses are now over 400k that would sell for 30k back in the 70's and min wage was 3.35 an hour.