Biden Proposing 5% Cap on Housing Rents

[Couchpotato]

Would you rather see millions of people evicted from their rental homes & millions of business going out of business ?
How good an "idea" is that ?

I would like the Federal Government to not violate the Constitution. Crazy I know.

 

[Stryder50]

Price caps provide no incentives for investment in new properties. Why would a landlord invest in new property/residents when their return on investment would be nil?

Backs up what I said.
Why invest in a money losing proposition ?

 

[protectionist]

Hey statist, do you rent from a management company, or a private individual?

I'm not a statist, I'm a far right Republican, and a business owner.
How about you ?

 

[task0778]

President Joe Biden will announce a new 5% cap on rental increases nationwide, a proposal aimed at stemming inflation-driven housing costs that have not dipped since the pandemic.

Biden hopes to unveil the proposal during his campaign stop in Nevada, a critical swing state for Democrats that has been crippled by soaring housing costs.

Under the new measure, which would require congressional approval, corporate landlords would lose the ability to write off depreciation values from their units if they increase tenants' rent more than 5%.


From the link in the OP. Biden is going to propose every frickin' thing under the sun to get votes, knowing full well it ain't going to happen. Nor should it, rent controls disincentivizes new housing construction. And that is a fact of life.

And BTW I doubt this is going to make a difference in November.

 

[Stryder50]

Would you rather see millions of people evicted from their rental homes & millions of business going out of business ?
How good an "idea" is that ?

Are you (personally) prepared to pay about double your taxes and gouge the other taxpayers to prevent those "evictions" ????

 

[Slyhunter]

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 would love for my sisters rent to be capped, but if you do that fewer people will buy homes to rent out and my sister would have no place to live.

 

[Stryder50]

I'm not a statist, I'm a far right Republican, and a business owner.
How about you ?

You don't sound like one !

 

[protectionist]

Price caps provide no incentives for investment in new properties. Why would a landlord invest in new property/residents when their return on investment would be nil?

Maybe you could ask thousands of landlords in New York City, who own buildings under rent control for decades, and are still doing OK.

 

[Harpy Eagle]

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

One more reason not to vote for Biden

 

[jotathought]

Not really.NYC has had rent control for decades, and 100+ year old buildings are still occupied and healthy. Dont fall for the landlord propaganda.

Which most likely leads to the limited supply and higher demand of rentals (and their associated sky-rocket prices), since less rentals are available. I

 

[Mikeoxenormous]

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

Of course with President Trump as the 47th president, and drill baby drill, then inflation will start to ease very quickly. That also would mean that wages would increase again, and the renters would be able to afford housing. What Joe Briben did, was screw over the whole nation, by causing the all mighty dollar to shrink almost by 50 percent, and all costs, food, energy, housing, healthcare costs went through the roof. if you want to continue this, vote for Joe Bribem.

 

[protectionist]

I would love for my sisters rent to be capped, but if you do that fewer people will buy homes to rent out and my sister would have no place to live.

Part of Biden's idea is to greatly increase affordable housing development. More details are in the link in the OP.

This would not only provide more rental housing, but would help to keep landlords from gouging.

 

[protectionist]

Which most likely leads to the limited supply and higher demand of rentals (and their associated sky-rocket prices), since less rentals are available. I

Post # 32 answered that.

 

[OldFlame]

This is not a leftist" issue. The cap would protect 99.99% of business owners in addition to renters. To those of us selling our wares on the open market, the astronomical rent increases of the past 5 years are the most damaging thing we have ever faced.

Many businesses have closed up entirely.
Ex. Sam Ash Music out of business (after 100 years)

What else should the government put a cap on? Why not everything? You're not thinking logically since this obviously sounds like it benefits you. Biden can promise everyone a government check, no need to work, and win 90% of the vote, and then hell will come calling after the fact.

 

[OldFlame]

It only affects CORPORATE LANDLORDS. And they own less than half of rentals in this country.
Yeah, the government fucks everything up by doing things they have no authority to do, they then create more power they dont have to deal with their fuck up, and retards like you cheer them on. Its pathetic.
Fucking leftists

They're apparently too stupid to see the forest for the trees. They will eventually bring everyone else down with them, that's the problem.

 

[Stryder50]

All you're doing here is repeating the standard old landlord line that says they need the increase to cover their costs. This might have been true in the past, with moderate increases, but over the last 5 years, it's a new and totally different ballgame, with rent increase of 100-200% common.

No landlord needs to raise rents $1000-2000/mo. This is insane. I hope Trump follows suit. I'm a Republican, and I've voted for Trump 3 times. I don't want to see him lose because of this. It could happen.

Well "Republican", I suggest you go buy/invest in a rental property and find out for yourself how costs have risen.

One of many factors starts at local level where "growth management acts" along with huge permitting - inspection -application/approval fees and other costs have resulted in more demand and less supply for housing = to own or rent.

This hose and i/2 acre country lot my wife started to purchase about 34 years ago went for @ $70,000. Latest tax apprise from county puts a value pushing near half a million$. We wouldn't be able to by this place today.

Just because the guv'mint says gravity doesn't apply doesn't mean gravity will stop working.

 

[PredFan]

Every election year, the democrats promise the world to the American people and deliver nothing. Every election year the sheeple fall for it.

 

[Donald H]

Just another insignificant election promise, that's in no way trying to keep the rotten apples out of the country's apple barrels.

 

[task0778]

Not really.NYC has had rent control for decades, and 100+ year old buildings are still occupied and healthy. Dont fall for the landlord propaganda.

Occupied maybe, but healthy? Doubtful. Because the costs of maintenance comes out of the rents, so guess what happens when the maintenance cost goes up faster than the rent does; less maintenance gets done.

 

[protectionist]

Of course with President Trump as the 47th president, and drill baby drill, then inflation will start to ease very quickly. That also would mean that wages would increase again, and the renters would be able to afford housing. What Joe Briben did, was screw over the whole nation, by causing the all mighty dollar to shrink almost by 50 percent, and all costs, food, energy, housing, healthcare costs went through the roof. if you want to continue this, vote for Joe Bribem.

I have posted 1,000 posts of reasons to not vote for Biden. I dont need coaching on that. As for "wages", have you forgotten those of us seniors (I'm 78) living on Social Security and small pensions ?

Also increased wages doesnt do much for businesses when 100 times the wage increases are losses in disposable income due to HUGE rent increases