Biden Proposing 5% Cap on Housing Rents

[task0778]

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.

You are wrong. Rent controls ALWAYS stifles housing development because the potential revenue is limited and the profit margin drops.

 

[TNHarley]

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

You are not far right.
Do you rent from an individual or a company?

 

[protectionist]

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

I think they are are writing the bill right now. If Republicans vote against it, that will hurt Trump in November. Not good.

 

[Mac1958]

Another short-sighted band aid.

Let's instead put strict limits on the number of residential properties that can be purchased by private equity. That's largely what's been driving prices and rents up.

 

[protectionist]

You are wrong. Rent controls ALWAYS stifles housing development because the potential revenue is limited and the profit margin drops.

As i already stated, NYC has had rent control since the 1920s and there still is a very healthy rental housing industry there. All you're doing is repeating standard landlord propaganda. Ho hum.

 

[jbrownson0831]

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.

Oh come on you aren't really falling for this crap are you??

 

[protectionist]

Another short-sighted band aid.

Let's instead put strict limits on the number of residential properties that can be purchased by private equity. That's largely what's been driving prices and rents up.

That would help a lot. Stop RealPage especially. Why landlords even deal with the likes of them (and Blackstone) I'll never know.

I own 2 businesses, and I would never let another business force me to overcharge my customers.

 

[Crepitus]

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

That's something that should have been enacted decades ago.

And as a landlord type it's absolutely anathema to tRump and his cronies.

 

[protectionist]

Oh come on you aren't really falling for this crap are you??

What are you talking about ?

 

[Concerned American]

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

A better and less communistic approach would be to cap property taxes, similar to Prop 13 Jarvis-Gann in CA. That has proven to be effective over the past 40+ years and it doesn't illegally stifle the free market.

 

[marvin martian]

As usual, Biden misspoke (surprise) and stated it would be a $55 yearly cap. Regardless, what a great strategy to combat inflation, not to mention the quality of life for renters, as the suppression of costs will only lead to a lack of maintenance and cost-cutting measures by property owners / landlords.

Way to go Biden! Do it!

The easy solution is to evict your tenants every year and raise the rent for the new tenant to whatever you want.

 

[Crepitus]

Another short-sighted band aid.

Let's instead put strict limits on the number of residential properties that can be purchased by private equity. That's largely what's been driving prices and rents up.

Absolutely.

 

[Concerned American]

Trump MUST reciprocate with his own rent cap law. I would hate to see Biden steal the election (legally), just by advocating a very popular (and needed) reform.

Also, if Trump is to show that he s a man of the people, and a protector of business interests, he will have to parallel Biden on this issue.

Time for protectionist's monthly socialist rent rant.

 

[protectionist]

That's something that should have been enacted decades ago.

And as a landlord type it's absolutely anathema to tRump and his cronies.

We'll see about that. Still 4 months to go before election.

 

[Concerned American]

Their costs have increased by a great deal, maybe not to the extreme you mention. But this stupid plan just makes it a problem at the other extreme.

Happens any time the government tries to control the free market.

 

[Concerned American]

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.

And look what a success that shithole is.

 

[Donald H]

Another short-sighted band aid.

Let's instead put strict limits on the number of residential properties that can be purchased by private equity. That's largely what's been driving prices and rents up.

Not even Communist China's capitalist system would stoop to that!

 

[protectionist]

You are not far right.
Do you rent from an individual or a company?

You apparently dont know me very well. HA HA. And you are probably nowhere near as rightwing as I am. Have you ever posted that all Muslim mosques should be closed down, and the buildings converted to some other worthwhile use ?

Have you advocated for the confiscation of all Korans, from libraries, bookstores, and schools, and the destruction of them ?

Advocated for the jailing of sanctuary city political leaders, and the death penalty for some of them ? I've posted all those things.
To me, the average conservative is actually a liberal.

 

[protectionist]

And look what a success that shithole is.

It's very successful, in terms of apartment building rentals, that are under rent control. I ought to know.
I lived in those buildings for 31 years (1946-1977)

 

[struth]

Trump MUST reciprocate with his own rent cap law. I would hate to see Biden steal the election (legally), just by advocating a very popular (and needed) reform.

Also, if Trump is to show that he s a man of the people, and a protector of business interests, he will have to parallel Biden on this issue.

There is nothing popular about capping rent. Five percent wouldn’t even keep up with xiden’s inflation

This is the demafasict plan to force foreclosures